Greenbacks were first issued
(a) by the Federal government to help the economy out of a recession in the 1850s.
(b) by the States to pay for the construction of canals.
(c) by the Federal government to help pay for the Civil War (1861–1865).
(d) by banks during the Free Banking Era.
(c)
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Which of the following will NOT result from an unsterilized intervention in which the central bank sells foreign assets to purchase domestic currency?
A) Domestic interest rates will rise. B) The foreign-exchange value of the domestic currency will rise. C) The central bank will experience a decrease in international reserves. D) The domestic money supply will rise.
Figure 7-1
In Figure 7-1, which graph best represents total physical product with diminishing returns?
a.
1
b.
2
c.
3
d.
4