Fiat money is
a. always backed by gold or silver.
b. useful in buying Italian cars.
c. only backed by government decree.
d. not as liquid as precious metals.
c
Economics
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The above figure shows the demand curve for movie rentals from Redbox. If Redbox lowered its price from $2.00 to $1.50, then total revenue would ________ because demand is ________
A) decrease; elastic B) increase; elastic C) decrease; inelastic D) increase; inelastic
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The key role of the WTO is to
A. control world trade B. increase free trade C. manage quotas D. balance world trade
Economics