A currency that is not backed by gold, silver, or any other precious commodity equal to the face value of the money is known as
A. fake money.
B. weak money.
C. commodity money.
D. token money.
Answer: D
You might also like to view...
All else constant, an increase in the number of buyers in the market for cell phone service would cause:
A) equilibrium price and quantity to increase. B) equilibrium price and quantity to decrease. C) equilibrium price to increase and equilibrium quantity to decrease. D) equilibrium price to decrease and equilibrium quantity to increase.
Equity investors can choose to participate indirectly in real estate markets by purchasing shares in publicly traded real estate companies. In doing so, investors benefit from all of the following EXCEPT:
A. Low transaction costs B. Risk sharing amongst investors C. Highly segmented markets D. High information efficiency
Which of the following is used to determine the terms of trade?
A. Absolute costs. B. Opportunity costs. C. Export ratio. D. Per capita GDP.
According to the World View chart in the text, from highest to lowest real GDP per capita, which is correct?
A. United States, China, India, Jordan, Germany, Japan, Russia. B. United States, China, Japan, Germany, Russia. C. United States, Japan, France, Canada, China. D. United States, Canada, Germany, Japan, South Korea.