The Federal backing for money in the United States comes from:
A. Providing sufficient quantities of precious metals such as gold and silver to cover the amount of paper money in circulation
B. Pledging physical assets, such as land, natural resources, and public buildings as collateral for outstanding currency
C. Controlling the money supply in order to keep the value of money relatively stable over time
D. Protecting checkable deposits at financial institutions with deposit guarantees
C. Controlling the money supply in order to keep the value of money relatively stable over time
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Inheritance accounts for about
A) 5 percent of income inequality. B) 10 percent of income inequality. C) 15 percent of income inequality. D) 30 percent of income inequality.
The money demand curve slopes: a. downward because the cost of holding money decreases as the interest rate decreases
b. downward because the cost of holding money increases as the interest rate decreases. c. upward because people demand more money as real GDP increases. d. upward because people demand more money as real GDP decreases. e. downward because people demand more money as the price level decreases.