If individuals will no longer accept a currency, is it still considered to be money?
a. No, because one of the main characteristics necessary for something to serve as money is that it must be generally acceptable.
b. No, because of Gresham's Law
c. Yes, because the government identifies it as legal tender.
d. Yes, because one of the main characteristics necessary for something to serve as money is that it must be generally acceptable.
a
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Which of the following Federal Reserve Banks carries out the decisions of the FOMC?
A) the Kansas City Federal Reserve Bank B) the New York Federal Reserve Bank C) the Dallas Federal Reserve Bank D) the San Francisco Federal Reserve Bank E) the Atlanta Federal Reserve Bank
Many rapidly developing countries in East Asia have pursued government policies, which encourage savings. According to the neoclassical growth model, if these policies stimulate savings but do not encourage technology growth, then these policies
a. will have no effect on the level of output. b. will increase output growth permanently. c. will increase output growth in the short-run, but not in the long-run. d. will have no effect on the growth of output in the short-run or the long-run. e. none of the above.