Currencies that are not backed by precious metals of equal value are called:
a. Repurchase agreements.
b. "Trouble" – with a capital "T."
c. Near money.
d. Fiat money.
e. Eurodollars.
.D
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A currency depreciation
A. reduces aggregate demand and increases aggregate supply. B. reduces aggregate demand and aggregate supply. C. increases aggregate demand and reduces aggregate supply. D. increases aggregate demand and aggregate supply.
Which of the following applies to the use of money as a unit of account?
I. A unit of account is an agreed measure for stating the prices of goods and services. II. Using money as a unit of account creates a simplified pricing system. III. Economies choose many goods as units of account. A) I only B) II only C) I and III D) I and II
The Bretton Woods system:
a. allowed for market-determined exchange rates. b. ended the use of the gold standard in all participating countries. c. led to a dramatic increase in the U.S. balance of payments deficit. d. resulted in the rapid increase of the U.S. gold supply in the 1960s. e. All of the above.
A market demand curve is found by adding the individual prices for each quantity demanded
a. True b. False Indicate whether the statement is true or false