Which of the following is an example of fiat money?
A. an ounce of gold
B. a government bond
C. a U.S. one-hundred dollar bill
D. cigarettes
Answer: C
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Explain the concept of zero lower bound
What will be an ideal response?
Economies of scale are said to exist when inputs are increased by some percentage and output increases by a(n) __________ percentage, causing unit costs to __________.
M2 includes:
a. Currency in circulation + Reserves of financial intermediaries (e.g., banks) + Checking Accounts + Near Money. b. Currency in circulation + Checking Accounts c. Currency in circulation + Cash inside financial intermediaries + Deposits at the central bank + Checking Accounts + Near Money. d. Currency in circulation + Checking Accounts + Near Money. e. Monetary base plus currency in circulation.
According to Keynes,
A. supply creates its own demand. B. the problem during recessions was inadequate aggregate supply. C. investment spending was necessary to get us out of a depression. D. budget deficits were good during recessions.