The currency of the United States is
a. backed dollar for dollar by gold
b. backed dollar for dollar by GDP (that is, by goods)
c. not backed by anything (neither gold nor fool's gold)
d. backed by the government's currency reserves in the vaults at Fort Knox
e. backed by gold only for coin, not for paper bills
C
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In financial markets an IPO is an
A) investment portfolio option. B) initial public offering. C) initial portfolio offering. D) investment portfolio offering.
Which of the following is a normative statement? a. An increase in taxes will cause higher unemployment
b. An increase in tariffs will increase the domestic prices paid by consumers. c. Income should be redistributed from the top 2% of wage earners to the lower income brackets. d. Running government budget deficits leads to higher market interest rates.
Which of the following involves either the buyer or the seller of a product having more information about the quality or price of the product than the other party?
a. Asymmetric information b. Imperfect information c. Risk assessment d. Adverse selection
From an economic point of view, someone who goes shopping for groceries every week has a great deal of practice with how to purchase the combination of goods that will provide the most utility, even if the shopper doesn't phrase decisions in terms of a budget constraint
a. True b. False Indicate whether the statement is true or false