Modern paper money is fiat money because it is backed only by the faith the holder has in the government that issued it
a. True
b. False
Indicate whether the statement is true or false
True
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If an activity is worth pursuing at all, then it should be pursued up to the point where
a. total cost equals total benefit. b. average cost equals average benefit. c. marginal cost equals marginal benefit. d. sunk costs equal zero.
According to the Economic Freedom Index,
A) countries with the lowest economic freedom enjoyed the highest per capita GDP. B) countries with the highest economic freedom enjoyed the lowest per capita GDP. C) countries with the highest economic freedom enjoyed the highest per capita GDP. D) there is no relationship between economic freedom and per capita GDP.
The Great Stagflation of 1973-1980 was characterized by a high rate of inflation combined with the recession or stagnation of economic output that occurred during this time period. A major cause was the increase in oil prices
Indicate whether the statement is true or false
If the euro faces a currency crisis with its value falling from $1.40 per euro to $1.20 per euro, who would benefit the most?
a) An American car manufacturer trying to export cars to Spain. b) Universal Studios Orlando, which wants more European tourists to visit its theme parks. c) The Brown family from Florida who plans to visit Paris next month. d) Jared, an American investor who purchased a 10,000 euro bond last year.