The fact that U.S. currency is legal tender means:
A. it cannot be backed by gold or other metals.
B. U.S. currency is good anywhere in the world.
C. private businesses in the U.S. and the U.S. government must accept currency for payment.
D. the only money the government will accept for settlement of debts is U.S. currency.
Answer: C
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Evaluate the following two statements: "He is income rich but he is not very wealthy" "He is income poor but he is wealthy"
What will be an ideal response?
Supplier power tends to be low when
a. The supplier provides non-critical inputs b. The supplier provides homogenous inputs c. Both A&B d. None of the above
The federal government funds deficit spending by: a. issuing bonds
b. redeeming bonds. c. increasing taxes. d. providing and selling government services.
The rule for profit maximization is the same for a monopolist as for a perfectly competitive firm
Indicate whether the statement is true or false