If the prices of goods and services were expressed in terms of coconuts, then coconuts would be serving as a
A) medium of exchange.
B) store of value.
C) standard of value.
D) fiat money.
C
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Which of the following affects the rate of economic growth? a. the quality of available resources. b. the quantity of available resources. c. technological change
d. all of the above.
Between 1950 and today there was a
a. 20 percent drop in the number of farmers, but farm output increased by more than ten times. b. 30 percent drop in the number of farmers, but farm output more than tripled. c. 40 percent drop in the number of farmers, but farm output more than doubled. d. 70 percent drop in the number of farmers, but farm output increased by about five times.
What were greenbacks?
a. paper currency issued by the Confederacy during the Civil War b. paper currency issued by the Union during the Civil War c. fiat money used by the Confederacy during the Civil War d. commodity money used by the Union during the Civil War
Suppose the current one-year interest rate is 3%, and financial markets expect the one-year interest rate next year to be 5%. Given this information, the yield to maturity on a two-year bond will be approximately
A) 4%. B) 6%. C) 8%. D) 12%. E) none of the above