The two most common types of money in circulation in the United States today consist of
A) private bank notes and commodity-backed paper currency.
B) commodity-backed paper currency and fiat money.
C) fiat money and transaction deposits at banks.
D) transaction deposits at banks and commodity money.
C
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The marginal principle implies that an individual should produce or consume where
A) marginal benefit is less than marginal cost. B) marginal benefit exceeds marginal cost. C) marginal benefit equals marginal cost. D) total benefit equals total cost.
Under U.S. antitrust law, a consent decree allows a firm to
a. admit to an antitrust violation without penalty b. admit to an antitrust violation without a lawsuit c. challenge the government's accusation in court d. cease the alleged wrongdoing without admitting guilt e. cease the alleged wrongdoing only by admitting guilt