What happened to the international gold standard during WWI?
A) It flourished, since no nation trusted the other nations' currencies.
B) It was abandoned.
C) It did not disappear but was weakened by a major decline in international trade.
D) It was relegated to government control.
Ans: C) It did not disappear but was weakened by a major decline in international trade.
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A consumer holds money to meet spending needs. This would be an example of the
A. use of money as legal tender. B. transactions demand for money. C. asset demand for money. D. use of money as a measure of value.
Which one of the following is a positive economic statement?
a. An increase in the minimum wage will reduce employment for teenagers. b. The minimum wage should be increased. c. Social justice will be served by increasing the minimum wage. d. Thoughtful people oppose an increase in the minimum wage.
Which of the following statements is positive?
A. Higher taxes are needed to support education. B. Large budget surpluses should be avoided. C. A tax cut that benefits high-income households is acceptable. D. Tax increases tend to discourage saving.
Which group has the lowest percentage of members with college degrees?
a. black women b. black people overall c. white women d. white people overall