In the United States, currency includes
A) paper money and coins in circulation. B) checking and savings account deposits.
C) gold, silver, and paper money. D) traveler's checks.
A
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Sammy has a drone that he values at $1,500. Dean values the same drone at $2,000. Sammy decides to sell the drone to Dean for $1,800. If the government imposes a $350 tax on the sale of drones,
A) Sammy and Dean would not be able to complete the transaction. B) Sammy and Dean would still be able to complete the transaction. C) the tax would cause a deadweight loss of $500. D) Both A and C are correct.
Refer to Table 4-11. The equations above describe the demand and supply for Chef Ernie's Sushi-on-a-Stick. The equilibrium price and quantity for Chef Ernie's sushi are $60 and 20 thousand units
What is the value of economic surplus in this market? A) $300 thousand B) $600 thousand C) $1,200 thousand D) $1,600 thousand