Fiat money is money
a. backed by land.
b. backed by gold or silver.
c. that can be converted to gold or silver.
d. because a government says it is.
d
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
A chain-weighted index
A) calculates changes in prices by using an average of base years from neighboring years to obtain a more accurate measure of real GDP growth. B) is used to understate the rate of inflation. C) is a useful tool for determining which fence to purchase. D) uses neighboring years' data to calculate changes in nominal GDP.
Suppose that the annual dividend per share of stock is $1.80 and the closing price of the stock is $32.00, the yield on the stock would be approximately
A. 10.5% B. 5.7% C. 21.6% D. 9.7%
Poverty is relative and not absolute.
A. True B. False C. Uncertain