A good can serve as money only if
A) citizens accept the good as a means of payment for transactions and debts.
B) government mandates that the good must be accepted in payment of debts.
C) it is declared by authorities to be legal tender.
D) it has intrinsic value or if it is backed by precious metals.
A
Economics
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The reduction of a tax
a. could increase tax revenue if the tax had been extremely high b. will always reduce tax revenue regardless of the prior size of the tax c. will have no impact on tax revenue d. causes a market to become less efficient
Economics
What happens to your purchasing power if inflation is less than you anticipated?
A) It decreases. B) It won't change much. C) It increases. D) It devalues your net worth.
Economics