Paper currency is a
A) fiat money. B) barter money.
C) commodity money. D) bond.
A
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When did the percentage of federal grants in state and local expenditures reach its peak?
A. 1960s B. 1970s C. 1980s D. 1990s
Standby passengers on airlines who pay low rates for seats benefit from the low price. How are the airlines affected?
a. They lose, because the standby passengers do not cover the full cost of the seats. b. They gain, because the additional revenue covers the "fixed costs" of the flight. c. They lose, because the gain of the passengers must necessarily come at the expense of the airline. d. They benefit as long as the additional revenue from the passengers exceeds the marginal cost.
Predictions that natural resources such as oil will be essentially used up in the next few decades
a. have been frequently made for the past century but have always proven to be false. b. have usually been based on the quantity of proved reserves. c. have ignored the role of price in governing the quantities demanded and supplied. d. All of the above are correct.
Those economists who view the AS curve as being vertical see more government tools capable of raising Real GDP than do the economists who view the AS curve as being upward-sloping
Indicate whether the statement is true or false