If you returned a $5 Federal Reserve note to the Fed, you could receive:
a. $5 in silver
b. $5 in gold.
c. 5 one-dollar bills.
d. 10 one-dollar bills.
e. a small gold bar.
c
You might also like to view...
Refer to Figure 4.1, which shows Molly's and Ryan's individual demand curves for compact discs per month. Assuming Molly and Ryan are the only consumers in the market, what is the market quantity demanded at a price of $3?
A) 6 B) 9 C) 15 D) 20
An IOU that promises to pay a certain amount at maturity, and also to pay periodic fixed amounts until that date, is called a(n)
A) stock. B) equity. C) bond. D) futures contract.
The demand for a product is likely to be more elastic:
A. the smaller the share of the total budget spent on the product. B. when more complementary products are available. C. in the short run than in the long run. D. when more good substitutes for the product are available.
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.