Something becomes money only if
A) people use it as a general medium of exchange.
B) it is backed by another commodity, typically gold or silver bullion.
C) the central government says it's money.
D) it promises to pay the bearer a fixed quantity of a scarce metallic good.
A
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The capital stock increases whenever
A) gross investment is exceeds net investment. B) net investment exceeds gross investment. C) gross investment is negative. D) net investment is positive.
There is clear evidence that the Civil War (1861–1865) aided industrialization in the U.S
Indicate whether the statement is true or false
If a central bank reduced inflation by 2 percentage points and that made output fall by 1 percentage points for 2 years and the unemployment rate rise from 3 percent to 5 percent for 2 years, the sacrifice ratio is
a. 1/2. b. 1. c. 2. d. 4.
Refer to the data provided in Table 10.2 below to answer the following question(s).
Table 10.2 
Refer to Table 10.2. The firm currently employs 4 workers at the market wage of $120 per worker per day. If the firm wants to maximize its profits, it should
A. hire fewer workers B. shut down since it is incurring a loss. C. hire more workers. D. make no adjustments as it is already employing the profit-maximizing number of workers.