Paper money in the U.S. is:
a. fiat money
b. more than half of M2.
c. only partially backed by gold and silver in Fort Knox.
d. convertible into specie (gold or silver) at the holder's request.
a
Economics
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When the exchange rate depreciates in the short run and then appreciates to its original level in the long run, it implies that the domestic money supply has:
a. temporarily risen. b. permanently risen. c. temporarily fallen. d. permanently fallen.
Economics
When the marginal product of labor is below the average product of labor, the average product must increase when employment increases
Indicate whether the statement is true or false
Economics