Fiat money has value because:
a. it is backed by gold

b. it is divisible.
c. it can be used to buy things.
d. it can be exchanged for a commodity backing it.

c

Economics

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The above figure shows the marginal social benefit and marginal social cost curves of coffee in the nation of Kaffenia. What is the efficient quantity of coffee to produce each day?

A) one hundred pounds B) two hundred pounds C) three hundred pounds D) four hundred pounds

Economics

The size of a deadweight loss in a market is reduced by

A) market price being close to marginal cost. B) government legislating a ceiling price. C) government legislating a price floor. D) creative destruction.

Economics