Gold, silver, and cigarettes in a prisoner of war are all examples of commodity money.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
Under what circumstances might a government price ceiling lead to the development of a black market?
What will be an ideal response?
In the Keynesian cross diagram, a decline in autonomous consumer expenditure causes the aggregate demand function to shift ________ and the equilibrium level of aggregate output to ________, everything else held constant
A) up; rise B) up; fall C) down; rise D) down; fall
When a government spends more than it earns in revenue, we say that it has a:
A. budget surplus. B. budget deficit. C. budget crisis. D. federal debt.