The current monetary system in the United States is
A) a mix of fiat money and exchange using transactions deposits at banks.
B) a commodity money system.
C) a gold standard.
D) a commodity-backed fiat money system.
A
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International trade is beneficial to a participating country when that country has a particular product that it is able to sell at a lower price compared to other participating countries
a. True b. False Indicate whether the statement is true or false
In computing GDP, market prices are used to value final goods and services because
a. market prices reflect the values of goods and services to the buyer. b. market prices do not change much over time, so it is easy to make comparisons between years. c. if market prices are out of line with how people value goods, the government sets price ceilings and price floors. d. None of the above is correct; market prices are not used in computing GDP.