The currency of the United States is:
A. backed dollar for dollar by gold.
B. backed by a gold cover of 50 percent.
C. not backed by any precious metal.
D. backed by the government's silver reserves.
Answer: C
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The function of the agent in the principal-agent relationship is
A) to be trusted with the principal's information. B) to perform tasks for the principal. C) to be the legal advisor of the principal. D) to act as go-between for the principal's negotiations.
A perfect competition market has which of the following?
a. Only productive efficiency b. Only allocative efficiency c. Neither allocative or productive efficiency d. Has both allocative and productive efficiency
Many economists believe there is a good chance that if the government had not taken over passenger rail service, Amtrak would
a. be making economic profits today b. be facing competition from numerous other rail systems c. provide services that generate significant tax revenues d. not exist at all today e. operate in the long run at a loss to private firms
As inflation rates increase, borrowing and lending contracts tend to
a. increase in size. b. decrease in size. c. decrease in length of time. d. increase in length of time.