Which of the following forms of money would best represent fiat money?
a) Silver quarters made prior to 1965.
b) An hour-long golf lesson given in exchange for an hour of tutoring in economics.
c) A $20 bill printed in 2015.
d) A rare baseball card given to a landlord in place of rent.
Ans: c) A $20 bill printed in 2015.
Economics
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The interest rate on interbank loans is called the
A) discount rate. B) federal funds rate. C) repo rate. D) prime rate.
Economics
A 50 percent tax on the profits of a monopolist will
a. be totally shifted to the consumer. b. raise price and lower quantity. c. cause no change in profit-maximizing price and quantity. d. change price but not quantity.
Economics