Which of the following statements is not correct about the U.S. monetary system?
A. Between 1789 and 1865, paper money was issued by hundreds of state-chartered banks.
B. Early in U.S. history, the money supply consisted of items such as tobacco and bullets.
C. The federal government did not print paper money until the Civil War.
D. Credit cards are the most common form of money today.
Answer: D
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Marginal utility theory is used in the derivation of the
A) negative slope of demand curves. B) negative slope of supply curves. C) positive slope of demand curves. D) positive slope of supply curves.
In a market economy, a resource is compensated according to
a. the needs of its owner. b. its contribution to the final product. c. social priority. d. government direction.
Firms have started to use ____ to solicit information about event that are important to them
A) internal markets B) external networks C) prediction markets D) none of these choices.
According to the Incentive Principle:
A. people tend to do more of something when its benefits are greater. B. benefits are more important than costs in making a decision. C. it is irrational to perform volunteer services. D. people will always take the highest-paying job they are offered.