Which is true?
a. Barter is an efficient way to conduct business
b. Fiat money is currency backed by the nation's gold reserves
c. the US dollar is backed by gold
d. the Fed sets tax policy
e. a Gold Standard means that a person with currency can easily convert the currency into gold
Ans: e. a Gold Standard means that a person with currency can easily convert the currency into gold
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What concept is involved when one disproportionately powerful actor can help provide the collective good, either directly or indirectly?
a. sustainability b. selective incentive c. privatization d. hegemony
Suppose a little girl likes peanut butter and jelly sandwiches with exactly 2T of jelly and 1T of peanut butter. Suppose further that her mom agrees to make sandwiches to those exact specifications and the price of peanut butter is $.25/T and the price of jelly is $.10/T. If she has $1.80 to spend on peanut butter and jelly ingredients (ignore the bread) in a week, how many sandwiches will she
make? a. 1 b. 2 c. 4 d. 8