Whatever functions as money must be _____
a. authorized by the government
b. accepted as deposit by banks
c. backed by precious metals like gold or silver
d. completely indestructible
e. limited in supply
e
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Comparing the cases of Brazil and Kerala, how would you characterize their different approaches to achieving economic development?
What will be an ideal response?
Assume all capital is owned by firms, rather than by households. Under this assumption, capital is paid according to the value of its marginal product
a. only if this income is transmitted to households in the form of interest. b. only if this income is transmitted to households in the form of dividends. c. only if this income is transmitted to households in the form of interest or dividends. d. regardless of whether this income is transmitted to households in the form of interest or dividends or whether it is kept within firms as retained earnings.