(Consider This) The feudal practice of clipping coins illustrates the idea of:
A. taxation through inflation.
B. good money driving out bad money.
C. the derived demand for resources.
D. cost-push inflation.
A. taxation through inflation.
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Cooperation among different people can occur
A) even if most people know nothing about one another. B) only if at least 10% of the people know one another personally. C) only if the majority of people know one another personally. D) only if everybody knows one another personally.
In a circular-flow diagram, the total value of ________ equals the total value of ________
A) spending on goods and services; income B) GDP; GNP C) capital; labor D) exports; imports
The secondary market for bonds is
a. where new issues of bonds are purchased b. of less importance to our economy than is the primary market c. of less importance to our economy than the stock market d. where bonds that were issued in previous periods are purchased e. a key determinant of the money supply
Which of the following government functions could most easily be handled by the private sector?
a) education b) national defense c) the legal system d) the police force e) foreign policy