Gresham's Law states that:
a. Good money tends to drive bad money out of circulation.
b. Virtual and electronic money tends to drive physical money out of circulation.
c. Bad money tends to drive good money circulation.
c. In times of financial instability, nations should "gresham," which means to back their currencies by precious metals.
d. In times of financial instability, commodity-backed money tends to drive electronic and virtual currencies from circulation.
.C
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The main reason why the economy's aggregate supply curve slopes upward is that
a. as the price level rises, businesses incur additional costs. b. businesses typically purchase labor and other inputs under long-term contracts that fix the cost of the input in money terms. c. as the price level rises, workers have higher real wages to spend for additional consumer goods. d. All of the above are correct.
Mutual Funds
What will be an ideal response?