When banking first began, it could be said that paper money was in reality
a. worthless.
b. receipts.
c. government money.
d. fiat money.
b
Economics
You might also like to view...
Which of the following can increase both productivity and income?
a. A decrease in the savings rate. b. An increase in the savings rate. c. An increase in population. d. An increase in human capital.
Economics
When we solve the firm's cost minimization problem by the method of Lagrange multipliers, the optimal value of the Lagrange multiplier equals the:
A) marginal product of labor. B) marginal product of capital. C) marginal cost of production. D) cost-output elasticity.
Economics