The essential difference between paper money and coins as forms of money is that
A) paper money serves as a unit of account while coins do not.
B) the metallic content of coins makes them more acceptable as money.
C) paper is paper and not metal. The metal is more durable.
D) paper money issued by the Federal Reserve Board is backed by gold while coins are not.
C
You might also like to view...
A higher saving rate leads to faster growth because
A) more saving produces greater additions to capital per hour of labor, raising real GDP per person. B) capital would wear out faster. C) people could consume more of an economy's output. D) population growth would accelerate.
The labor movement has been largely an economic movement, not a political phenomenon
Indicate whether the statement is true or false
In a market system, employees and suppliers:
A. are usually shielded from risk, but at the cost of not sharing in the profits of the firm. B. are usually shielded from risk and share in the profits of the firm. C. are generally subject to as much risk as firm owners but get to share in the profits. D. bear as much risk as firm owners but don't get to share in the profits.
Refer to the graphs below. They show the long-run average total cost (LRATC) for cars. For which graph are there economies of scale throughout the entire range of output of cars?
A. Graph A
B. Graph B
C. Graph C
D. Graph D