Federal Reserve notes are _____
a. checks
b. commodity money
c. coins
d. backed by gold
e. fiat money
e
You might also like to view...
What will be the effects of a severe Florida freeze on the price of orange-juice-concentrate futures and what will occur as a result?
A) The futures price will fall and less orange juice will be consumed currently. B) The futures price will fall and more orange juice will be consumed currently. C) The futures price will rise and less orange juice will be consumed currently. D) The futures price will rise and more orange juice will be consumed currently.
Assuming steak and potatoes are complements, other things being equal, an increase in the price of steak, will:
a. increase the demand for potatoes. b. decrease the demand for potatoes. c. increase the demand for steak. d. decrease the demand for steak.