After World War II, cigarettes were used as money in Germany. This is an example of
A. legal money.
B. token money.
C. commodity money.
D. fiat money.
Answer: C
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Starting from long-run equilibrium, an increase in autonomous consumption results in ________ output in the short run and ________ output in the long run.
A. higher; higher B. higher; potential C. lower; higher D. lower; potential
Marginal analysis involves undertaking an activity
A) only if its marginal costs are greater than its marginal benefits. B) until its marginal costs start declining. C) until its marginal benefits equal marginal costs. D) only when its marginal benefits are positive.
Per capita real GDP is obtained by dividing real GDP by the number of people active in the labor force
a. True b. False Indicate whether the statement is true or false
In the early 2000s, Chinese officials indicted members of a forgery syndicate that sold several hundred diplomas to high school graduates who needed the diplomas to take employment tests. This situation, where having the certificate of knowledge is more important than the knowledge itself, is known as:
A. the brain drain. B. human capital. C. certification. D. credentialism.