In the United States and in virtually every other country, the printing of money is
A. limited by the supplies of gold and silver the central bank holds in reserve.
B. strictly a government monopoly.
C. open to the free market so that different monies can compete for acceptance with one another.
D. a privilege that is allowed only to banks that are members of the Federal Reserve System.
Answer: B
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Inflation is the hardest on those living on fixed incomes
a. True b. False Indicate whether the statement is true or false
When OPEC raised the price of oil, it created a:
a. demand-pull inflation. b. cost-push inflation. c. demand-push inflation. d. cost-pull inflation. e. cost-push deflation.
A focus on economic profit
A) will change the behavior of the firm. B) will cause a management turnover. C) will cause stock prices to fall. D) will created on added value.
Which of the following does not apply to a firm that has shut down in the short run?
a. Variable cost is zero. b. Total revenue is zero. c. Total cost exceeds total revenue. d. Total cost is zero. e. Fixed cost is positive.