All else constant, as more firms substitute alternative materials, e.g., plastic, for copper, the market price of copper would be expected to:
A) increase.
B) stay the same.
C) decrease.
D) cannot be determined with the information given.
C
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What is the essential characteristic of money?
A) It must be backed by some other tradable commodity. B) It must be backed by gold or silver. C) It must be accepted and used by people as a general medium of exchange. D) It must be declared by government authority.
The federal government debt equals
A) the accumulation of past budget deficits. B) tax revenues minus government spending. C) the total value of U.S. Treasury bonds outstanding. D) government spending minus tax revenues.
The Grangers are noted for
a. encouraging the federal government to re-issue "greenbacks.". b. establishing cooperatives that sold farm and consumer goods to their members. c. refusing to sell grain to foreign countries. d. forming a cartel that set upper limits on members' output of basic farm products. e. All of the above.
If the economy is inflationary, the Fed would most likely:
a. encourage banks to provide loans by buying government securities. b. encourage banks to provide loans by raising the discount rate. c. encourage banks to provide loans by selling government securities. d. restrict bank lending by selling government securities. e. restrict bank lending by lowering the federal funds rate.