Which of the following information about fiat money is false? Fiat money
A) has little to no value except as money.
B) serves as a medium of exchange.
C) is backed by gold.
D) is authorized by a central bank or governmental body.
C
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Imports are products produced in the home country and sold in another country
Indicate whether the statement is true or false
When marginal revenue is positive, total revenue ________ when output increases and demand is ________
A) decreases; elastic B) decreases; inelastic C) increases; elastic D) increases; inelastic E) does not change; unit elastic
What is a zero-sum game? Can you think of any zero-sum games in real life?
What will be an ideal response?
In year 1 the CPI is 174, and in year 2 the CPI is 190. If Sarah's salary was $49,800 in year 1, what salary in year 2 would cause her to exactly "keep up with inflation"?
A) $34,004 B) $42,942 C) $40,508 D) $54,379