The value of money is based on
a. the amount of gold backing the money.
b. its designation by the government as legal tender.
c. the level of interest rates.
d. the goods and services that a given amount of money will buy.
d. the goods and services that a given amount of money will buy.
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Net investment
A) equals gross investment plus depreciation. B) is the only measure of investment used to calculate GDP. C) equals gross investment minus depreciation. D) is equivalent to the existing capital stock in the economy.
Federal Reserve policy appears to be
A) more concerned with avoiding recession rather than preventing inflation. B) more concerned with preventing inflation rather than avoiding recession. C) equally concerned with avoiding recession and preventing inflation. D) motivated by whether inflation or recession is the current problem.