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.
B
Economics
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The AS/AD model studies the relationship between
A) the price level and unemployment. B) the price level and real GDP. C) unemployment and real GDP. D) nominal GDP and inflation.
Economics
Suppose the government imposes rent control (a price ceiling) below the equilibrium price for rental housing. Which of the following could result?
a. Tenants risk breaking rent control law. b. The quality of existing rental housing deteriorates. c. Shortages. d. All of these.
Economics