One disadvantage of gold as the basis for a currency is
A) gold is difficult to transport in large quantities.
B) a new discovery of gold could quickly change the value of the currency.
C) a gold standard can be costly to maintain if the currency comes under speculation.
D) all of the above.
D
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The conflict between the Vice President of Marketing and her sales staff arises because
a. the sales staff are too willing to offer discounts b. the sales staff does not want to negotiate aggressively enough c. the Vice President wants to negotiate too aggressively d. the Vice President is more willing to offer discounts to make the sale
If the price index in year A is 130, this means that:
A. Prices in year A are on average 130 percent higher than in the base year B. Prices in year A are on average13 times that in the base year C. Prices in year A are on average 30 percent higher than in the base year D. Nominal GDP is 130 percent higher than real GDP in year A
Under the new Constitution in 1789, the states gained the sovereign power to
(a) levy taxes. (b) power and issue money. (c) "regulate" the value of money. (d) create corporations by special franchise.
The law of demand states that:
A. consumers will buy more of a product at high prices than at low prices. B. price and quantity demanded are directly related. C. price and quantity demanded are inversely related. D. the larger the number of buyers in a market, the lower the product price will be.