Cigarettes served as money in some prisoner of war (POW) camps during World War II. Given this, we would expect to observe
A. only government-issued cigarettes being accepted as money.
B. people usually resorting to barter rather than using cigarettes as money.
C. prices of other goods expressed in terms of cigarettes.
D. no one ever smoking a cigarette.
Answer: C
Economics
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By buying bonds, the Fed decreases the quantity of reserves in the banking system and decreases the money supply.
a. true b. false
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Using the data in the table above, the equilibrium quantity and equilibrium price for a cellular telephone is
A) 50,000 and $100. B) 80,000 and $80. C) 60,000 and $50. D) 40,000 and $20. E) 100,000 and $20.
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