Which of the following is an example of a commodity money?
A) gold coins
B) dollar bills
C) British pound notes
D) Japanese yen notes
A
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An implementation lag is the time it takes: a. for policy makers to decide what to do
b. for the chosen policy to have its full impact on the economy. c. to identify trouble in the economy and to assess its severity. d. to put a selected policy into action. e. before a policy's effects on the economy are noticed by ordinary people.
What is producer surplus? How is it different from consumer surplus?
The combination of pork barrel spending and logrolling leads to:
A. the quick termination of projects that are wasteful. B. the largest net benefit for society. C. inefficiently large government spending. D. under provision of public goods.
GDP = C + I + G + Xn. From the outbreak of World War I (1914) until the 1970s, if Xn were not included our GDP would be
A. higher. B. the same. C. lower.