Refer to Scenario 18.1. When Curly made the loans to Moe, Larry, and Shemp, there were 500 coins' worth of receipts. These receipts are best described as
A) commodity money.
B) representative commodity money.
C) partially backed representative commodity money.
D) fiat money.
C
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Fiscal federalism in the EU refers to
A) one nation's control of the monetary policy of all the other nations. B) freedom of member countries to leave the EU at any time. C) the transfer of economic resources from members with healthy economies to those suffering economic setbacks. D) one nation's freedom to abandon the Euro and use its own currency. E) the transfer of economic resources between members with healthy economies.
In the short run, a monopolist: a. always suffers an economic loss
b. always earns an economic profit. c. always earns a normal rate of return. d. may make an economic loss, an economic profit, or zero economic profits.