India's decision in late 2016 to withdraw from circulation all existing 500- and 1,000- rupee paper currency, to stop accepting the old currency, and to stop exchanging it for new currency was an attempt by policymakers to
A) eliminate all currency from the economy.
B) increase the size of the underground economy.
C) reduce corruption.
D) end hyperinflation.
Answer: C
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Crowding out occurs because expansionary fiscal policy:
A) appreciates the exchange rate. B) lowers foreign income. C) lowers the interest rate. D) increases net exports.
Adam spent $10,000 on new equipment for his small business, "Adam's Fitness Studio." Membership at his fitness center is very low and at this rate, Adam needs an additional $12,000 per year to keep his studio open. Which of the following is true
A) The fixed cost of running the studio is $22,000. B) The $10,000 Adam spent on equipment is the total cost of starting the business and the $12,000 he'll need to continue operations is a marginal cost. C) The variable cost of running the studio is $22,000. D) The $10,000 Adam spent on equipment is a fixed cost of business and the $12,000 he'll need to continue operations is a variable cost.