The word "fiat" is
A) used to describe today's money because it is money set by law.
B) used to describe money from when Kings ruled by decree or fiat.
C) the term used to define the concept of barter.
D) another word to mean the "double coincidence of wants."
E) Latin for "backed by gold."
A
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Which of the following is NOT an investment in human capital?
A) A business student takes a seminar in using a laptop computer. B) A student purchases a laptop computer. C) A computer science student learns how to repair a laptop computer. D) A computer science student takes a course on programming a laptop computer.
Changes in the equilibrium interest rate will:
A. affect both the size of the domestic output and the allocation of capital goods among industries. B. affect the size of the domestic output, but not the allocation of capital goods among industries. C. affect the allocation of capital goods among industries, but not the size of the domestic output. D. have no perceptible effect on either the size of the domestic output or the allocation of capital goods among industries.