The view of mercantilists can be summarized as follows
A) to sell less to strangers yearly than we consume of theirs in value.
B) to sell more to strangers yearly than we consume of theirs in value.
C) to consume more of theirs in value than we sell to strangers.
D) to consume the same amount as theirs in value as we sell to strangers.
E) to sell gold and silver to strangers in exchange for services.
B
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If the Fed makes the quantity of money grow at the same rate as the growth rate of real GDP and velocity does not change, in the long run what happens to the price level and the inflation rate?
What will be an ideal response?
Which of the following information about fiat money is false? Fiat money
A) has little to no value except as money. B) serves as a medium of exchange. C) is backed by gold. D) is authorized by a central bank or governmental body.