When colonists in Virginia used tobacco as money, their money
a. was commodity money.
b. had no intrinsic value.
c. was fiat money.
d. had no store of value.
a
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During this year, Barbara earned $60,000 as a financial analyst, paid taxes of $5,000 and consumed $53,000. If Barbara's wealth was $4,000 at the beginning of the year, at the end of the year Barbara's wealth was
A) $6,000. B) $60,000. C) $2,000. D) $4,000. E) $5,000.
What is the CPI and how is it calculated?
What will be an ideal response?
Which of the following describes a positive externality?
A) The government imposes a tax on cigarettes in order to discourage smoking among teenagers. B) People who do not attend college still benefit from others who receive a college education. C) John Henry paints the outside of his house in order to increase its market value just before he puts the house up for sale. D) Mary volunteers to drive her neighbor's children to soccer practice.
________ refers to alternating periods of economic expansion and economic recession in an economy
A) Fiscal policy B) Labor productivity C) The business cycle D) Positive economic analysis