The early goldsmiths issued money in the form of
A. coins made from gold in their safes.
B. receipts for the acceptance of gold deposits.
C. gold fragments left over from the production of jewelry.
D. fully backed gold certificates.
Answer: B
Economics
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By fixing its exchange rate, China is most likely
A) achieving a low inflation rate by anchoring to the U.S. inflation rate. B) keeping its export prices low. C) making it easier to compete in world markets. D) Both B and C.
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In the above figure, if the market price is $100 per ton, then the firm's producer surplus on the second ton of wheat is
A) $25. B) $50. C) $75. D) $100.
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