What condition is necessary for a fiat money system to work?
What will be an ideal response?
Answer: The government must control the money supply.
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Refer to the figure below. If the price rises from $10 to $14, what will happen to the price elasticity of supply? 
A. It stays the same. B. It decreases. C. It increases. D. This cannot be determined from the information provided.
In order to decrease the incidence of "Baumol's Disease" in the United States economy, we should increase the job training programs in the _________.
Fill in the blank(s) with the appropriate word(s).
For a cost function C = 100 + 10Q + Q2, the average fixed cost of producing 10 units of output is:
A. 5. B. 1. C. 10. D. None of the answers are correct.
Four roommates have moved into an apartment. However, none of them cleans the apartment thinking that the others will do it. This is an example of ________
A) the free-rider problem B) the paradox of thrift C) the paradox of plenty D) the tragedy of commons