The real value of money
A) matters less to people than its nominal value. B) is the same as its nominal value.
C) is another word for the face value. D) reflects the purchasing power of money.
D
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The hypothesis that people are nearly, but not fully rational, cannot possibly fully examine every available choice, and utilize simple rules of thumb in making decisions is known as the
A) irrationality hypothesis. B) ceteris paribus hypothesis. C) individual aggregation hypothesis. D) bounded rationality hypothesis.
Suppose MPL = 20 and MPK = 40 and the rental rate on capital is $10 . If the level of production is currently efficient, the wage rate must be
a. $10 b. $5 c. $20 d. $40
The key to a successful positive signal is that:
A. it is hidden information. B. it builds trust between the principal and the agent. C. it is costly to fake. D. All of these statements are true.
Many governments give their central bank control over issuing currency because:
A. printing currency can be profitable for a government so government officials may have a strong incentive to print too much. B. the only way to distribute currency to banks is through the central bank. C. central banks use the profits from issuing currency to finance their operations. D. having large amounts of currency can lead to lower rates of inflation.