Inflation burdens those individuals living on fixed incomes

A fiduciary monetary system ultimately rests on

A) the value of the assets backing up the system. B) the public's confidence in the system. C) the difficulty of counterfeiting the currency. D) the value of the metal backing up the system.

All of the following took place during the Great Depression EXCEPT

A) increase in unemployment from about 3.4 percent to about 25 percent and a decrease in real GDP by about 30 percent between 1929 in 1933. B) an increase in taxes because of the fear that budget deficits would undermine business confidence. C) a fall in the money supply by more than 30 percent. D) a rise in inflation during the early 1930s. E) the stock market crashed by about one-third in October of 1929.