The reason we are willing to accept money with no intrinsic value is that
A) the money supply is backed by an equal amount of gold and silver.
B) we have a fiduciary monetary system in which currency has both acceptability and predictability of value.
C) the value of the money varies directly with changes in the price level.
D) paper currency may be exchanged for full-bodied money.
B
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What evidence exists that industrial concentration increases the rate of technologicaladvance?
What will be an ideal response?
A monopolist faces the inverse demand curve P = 60 - Q. It has variable costs of Q2 so that its marginal costs are 2Q, and it has fixed costs of 30. The monopoly's profit maximizing output is
A) 5. B) 10. C) 15. D) 20.
RECLAIM refers to
a. one of the first state-level trading programs, which was developed in California b. a federal program for stationary sources to earn credits for reducing pollution c. a national program to refurbish older, polluting refineries d. the claiming of SO2 allowances that have been banked in a prior period
An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply. B. increase in aggregate demand. C. increase in short-run aggregate supply. D. decrease in aggregate demand.