The earliest paper money was bank notes, which were pieces of paper issued by banks, ornately printed to frustrate counterfeiters, and
What will be an ideal response?
promising to pay a specified amount of metallic money on demand.
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Refer to Table 12-4. If the market price is $45, the firm
A) will earn profit of $1,040. B) will suffer a loss of $200. C) earn a profit of $3,600. D) will break even.
A recession causes
a. transfer payments and corporate profits to increase b. military spending and corporate profits to increase c. unemployment to increase and transfer payments to decrease d. transfer payments to increase and corporate profits to decrease e. household income and government transfer payments to decrease
Which of the following is an example of a fiscal policy?
a. Raising the discount rate b. Reducing the reserve requirement c. Reducing government spending d. Pegging the currency
Refer to the accompanying figure. What is the slope of the supply curve?
A. 4 B. 2 C. 1 D. 1/2