Money is:
a. valuable because it is backed by gold.
b. any items used in barter.
c. an illiquid asset.
d. none of these.
d
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Which is an example of "short selling"?
A) The public high school that offers a before-school breakfast program for twenty dollars a month, paid the first of each month B) The public high school theater group that sells out their rendition of Grease three days before opening night C) The for-profit high school ring company that requires payment in full from graduating seniors before producing the rings of their choice D) All of the above.
Which of the following is an important difference between tariffs and import quotas?
a. Tariffs affect goods leaving the country to be sold, and import quotas affect goods coming in. b. The government receives revenue from tariffs but does not collect money for import quotas. c. Import quotas lower prices and increase consumer surplus, whereas tariffs do the opposite. d. Tariffs support the growth of domestic industry, and import quotas help foreign producers.