Which of the following is not true of Federal Reserve notes?
a. They are fiat money
b. They are a liability of the Fed.
c. They are redeemable for other Federal Reserve notes.
d. They are redeemable for gold.
e. They are counted as currency in the money supply
d
Economics
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In the economic way of thinking, the right to coerce adults is
A) immoral. B) a property right. C) the most efficient way for management to control labor. D) necessarily antithetical to a free and open society. E) good because it's rooted in the Old Testament.
Economics
In the United States today, how much gold will the Federal Reserve give you in exchange for $1?
A) 1 ounce of gold B) none C) 1/35th of an ounce of gold D) $1 worth of gold (based on the market price of an ounce of gold at the time you exchange the $1)
Economics