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
Answer: b. paper currency issued by the Union during the Civil War
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All of the following are reasons that health care costs have risen so much in the past few decades EXCEPT
A) the aging population. B) higher imports. C) new technologies. D) third party payments.
For a monopoly, marginal revenue for all units greater than 1:
A. is always less than the price. B. cannot be negative. C. is zero when total profits are maximized. D. is always greater than marginal cost.
For barter exchange to take place,
a. there has to be a double coincidence of wants b. the goods must be divisible c. money must be assigned to each barter transaction to indicate the values exchanged d. no less than four parties (at least two sellers, two buyers) to the exchange are needed e. gold has to be one of the goods traded
If a government enacts a rent control to protect apartment tenants, the result is likely going to be
a. an increase in rents with a surplus of apartments. b. an increase in rents with a shortage of apartments. c. a decrease in rents with a surplus of apartments. d. a decrease in rents with a shortage of apartments.