The current international monetary system is based on a commodity standard.
Answer the following statement true (T) or false (F)
False
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Friedman and Schwarz argue that money is not neutral because
A) theoretical models of the economy don't show monetary neutrality. B) money is a leading, procyclical variable. C) they found several historical incidents in which changes in the money supply were not responses to macroeconomic conditions, and output moved in the same direction as money. D) they found no evidence that productivity changes or changes in government spending contributed to business cycles; only monetary changes preceded every recession.
The idea of the "invisible hand" tells us that individuals will pursue:
A. mutually beneficial trades with other individuals to maximize surplus. B. trades in which they will be the clear winner and the other will be a loser. C. the most equitable outcome possible. D. as few government policies as possible so the market can act freely.
A traffic light would be considered a common resource
a. True b. False Indicate whether the statement is true or false
A bread company borrows money to buy a high-capacity oven. The loan amount is $10,000 and the annual interest rate is 10%. Which of the following calculates the interest cost to the company for one month?
a. ($10,000 ÷ 12) ÷ 0.10 b. ($10,000 x 0.10) ÷ 12 c. $10,000 ÷ (0.10 ÷ 12) d. $10,000 ÷ (12 x 0.10)