If the Fed expects currency holdings to fall, it conducts open market ________ to offset the expected ________ in reserves

Commodity speculators persuade people to start economizing in their consumption of a good as soon as the speculators foresee an increased future scarcity by causing

A) futures prices, expected future prices, and current prices to fall. B) futures prices, expected future prices, and current prices to rise. C) futures prices and expected future prices to fall and current prices to rise. D) futures prices to rise, expected future prices to fall, and current prices to rise. E) futures prices and expected future prices to rise and current prices to fall.

Which of the following statements is false?

a. Round stones with holes in the center can serve as money. b. Money eases the process of exchanging goods and services in a modern economy. c. Money serves as a measure of value only when it is backed by gold or silver. d. Money is used as a measure of the relative value of goods and services in an economy.