Which of the following does not explain what backs the money supply in the United States?
A. It is backed by gold.
B. It is widely accepted in transactions.
C. It is designated "legal tender" by the federal government.
D. It is relatively scarce.
A. It is backed by gold.
You might also like to view...
All else constant, if the central bank wants to slow the pace at which the economy is expanding, it should increase interest rates
Indicate whether the statement is true or false
According to the kinked demand curve model, if there is a modest increase in a firm's variable production costs, what is likely to happen to the firm's profit-maximizing level of output and the amount of profit earned by the firm? Why?
What will be an ideal response?
International trade
A. raises the standard of living in all trading countries. B. lowers the standard of living in all trading countries. C. leaves the standard of living unchanged. D. raises the standard of living for importing countries and lowers it for exporting countries.
Juan purchases automobile insurance; the insurance contract is a:
A. financial instrument. B. financial intermediary. C. transfer of risk from the insurance company to Juan. D. form of money.