Currently, U.S. currency is
a. fiat money with intrinsic value.
b. fiat money with no intrinsic value.
c. commodity money with intrinsic value.
d. commodity money with no intrinsic value.
b
You might also like to view...
In a move to free the economy from unnecessary regulation, Congress passes legislation to remove sugar price supports. What would most likely happen to the number of producers of sugar?
A. It would decrease, because sugar prices would fall. B. It would decrease, because sugar prices would rise. C. It would increase, because sugar prices would fall. D. It would increase, because sugar prices would rise.
The representative agent chooses to consume
a. his endowment point. b. equal amounts of current and future goods. c. more future goods than current goods. d. the basket of goods where the slope of the indifference curve equals -1.
Assuming the standard assumptions, in a single-play ultimatum game, the second player's best strategy in the last round is to:
A. accept only those offers over 50 percent of the total. B. accept any offer greater than zero. C. reject all but evenly split offers. D. reject all offers.
A young chef is considering opening his own sushi bar. To do so, he would have to quit his current job, which pays $20,000 a year, and take over a building that he owns and currently rents to his brother for $6,000 a year. His expenses at the sushi bar would be $50,000 for food and $2,000 for gas and electricity. The chef's explicit costs are equal to_____.
a. ?$66,000 b. ?$78,000 c. ?$52,000 d. ?$72,000 e. ?$26,000