Dollar bills in the modern economy serve as money because
A) they can be redeemed for gold by the Federal Reserve.
B) they are backed by the gold stored in Fort Knox.
C) they have value as a commodity independent of their use as money.
D) people have confidence that others will accept them as money.
D
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Which of the following is NOT true about a certificate of convenience and public necessity?
A) It is a barrier to entry. B) It is a patent. C) It is issued by a government agency. D) It limits competition.
Selling a good abroad below the price charged in the home market is
A) a basic argument for free trade. B) the infant industry argument. C) dumping. D) a voluntary restraint agreement.
The "rules of the game," the set of conditions that shape individual incentives and constraints, are determined by
a. the production possibilities frontier b. scarcity c. technology d. the amount of consumer goods in the economy e. laws about resource ownership and the role of government
The evidence of the net economic impact of casino gambling suggests that it is
A. significantly positive. B. modestly positive. C. modestly negative. D. significantly negative.