Which of the following backs our money supply?
a. The words "This note is legal tender."
b. The faith in the government
c. The faith that people will take it in exchange for goods and services
d. Precious metals
c
Economics
You might also like to view...
Money serves as a standard of value, which is another way of saying that money functions as
A) a unit of accounting. B) a medium of exchange. C) an opportunity cost of investment. D) standard of deferred payment.
Economics
The curve that shows the relationship between inflation and unemployment when the economy is at full employment is the
A) aggregate supply curve. B) long-run Phillips curve. C) long-run Okun's curve. D) aggregate demand curve. E) short-run Phillips curve.
Economics