In a fiduciary monetary system
A) coins get their value from the precious metals of which they are made.
B) money gets its value from the confidence that the public has in its acceptability.
C) paper currency does not have value, but balances in checking accounts do.
D) checking account balances do not have value, but paper currency does.
B
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Benefits of free trade include all of the following EXCEPT
A) increased world production. B) higher standards of living. C) transmission of new ideas. D) increased international mobility of labor.
If companies that were creating pollution had to pay the social cost of production, they would want to supply:
A. more at any given price. B. less at any given price. C. the same amount at the equilibrium price. D. the same amount at any given price.
When free riders are present in a market, the market generally fails to provide the efficient outcome
a. True b. False Indicate whether the statement is true or false
Which of the following events occurred during the 2000 to 2003 time-frame and had an important impact on the deficit/surplus projections?
A. The decrease in unemployment rates from 2002 to 2003 B. The increase in inflation rates from 2000 to 2002 C. The recession of 2001 D. The increase in interest rates from 2001 to 2003