Which best describes the backing for money in the United States?
A. The gold stored in the Federal Reserve Bank of New York.
B. The acceptability of it as a medium of exchange.
C. The size of the budget surplus in the U.S. government.
D. The willingness of foreign government to hold U.S. dollars.
Answer: B
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Your starting salary is $35,000 per year. After one year, you are given a raise that increases your nominal salary. Which of the following salaries would you prefer the most?
A) a $36,000 salary with a CPI of 103.0 B) a $39,000 salary with a CPI of 110.0 C) a $39,000 salary with a CPI of 109.0 D) a $37,000 salary with a CPI of 106.0 E) a $38,000 salary with a CPI of 104.0
Briefly explain the command-and-control approach in dealing with an externality such as pollution. Give an example of the U.S. government using the command-and-control approach to deal with the pollution problem
What will be an ideal response?
If nominal GDP is $7 trillion, and the money supply is $2 trillion, then what is the velocity of money?
a. 14. b. 7. c. 3.5. d. 2.
What is the term for when a company keeps its earnings for capital investment, thereby forgoing the paying of shareholders?
a. distributions b. dividend payments c. retained earnings d. salaries e. business expenses