The goal of a gold standard is to
A) return money back to its natural state.
B) shift wealth from the middle class to the rich.
C) reduce uncertainty by limiting the power of the Federal Reserve to increase the amount of money in circulation.
D) conserve on natural resources, such as pulpwood, used to make paper money.
C
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Private businesses tend to spend too little on research and development, because ________
A) investments to increase the capital stock are a better way to boost productivity B) governments tend to spend too much on research and development C) patent laws make it difficult to reap the benefits of such spending D) technology is often nonexcludable
The original goal of the Fed's founders was to prevent the
a. supply of money from increasing too rapidly. b. supply of money from decreasing during downturns. c. possibility of hyperinflation. d. possibility of interest rates falling too rapidly.
The functions of money are
A) a conductor of economic activity, a medium of exchange, and a store of value. B) a medium of exchange, a store of value, and a factor of production. C) a store of value, a medium of exchange, and a determinant of investment. D) a store of value, a unit of account, and a medium of exchange.
________: program designed to reduce acreage in production, reduce erosion and improve water quality
Fill in the blank(s) with correct word