Today, the value of U.S. currency is backed by ______.
a. people’s faith in its ability to be converted into services and goods
b. insurance provided by the Federal Deposit Insurance Corporation
c. the silver standard due to its role in the international market
d. the gold standard, with some account for digital currencies
a. people’s faith in its ability to be converted into services and goods
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The above figure shows the Lorenz curve for wealth for the nation of Rusha. What percent of wealth is owned by the wealthiest quintile?
A) 0 percent B) 5 percent C) 40 percent D) 60 percent
According to the Gordon-Growth model, what will be the percentage change in the value of the stock of a company whose current dividend is $10
00 and whose dividends had been expected to grow by 3% per year but now are expected to grow by 1% per year? A) -4.0% B) -23.7% C) -31.1% D) -66.0%
If all firms pay an efficiency wage, then
A) there is no cost to shirking because the shirking worker can receive his high wage at another firm after being caught and fired. B) the macroeconomy would enjoy a prolonged period of near-zero unemployment. C) there is a cost to shirking because the efficiency wage is less than it would have been if only a few firms paid it. D) there is a cost to shirking because the shirking worker will spend a greater time unemployed after being caught and fired.
There are a number of benefits that usually accompany economic growth. The following are such benefits EXCEPT
A) increase in literacy. B) increased expected life-spans. C) political stability. D) urban congestion.