Which is true?
a. M1 has been decreasing over the past six months
b. The US dollar has value because it is accepted as payment for goods and services
c. the US dollar is backed by US gold reserves
d. all
Answer: b. The US dollar has value because it is accepted as payment for goods and services
You might also like to view...
Mary says she plans to return to college next semester assuming her car keeps running, tuition fees don't go up, and her daycare provider continues to be dependable. An economist would say that Mary plans to return to college next semester
A) caveat emptor. B) ceteris paribus. C) laissez faire. D) ipso facto.
If you are to receive a payment of $200 at the end of the first year and a payment of $250 at the end of the second year and the market interest rate is 5 percent, the present value of this income stream is
a. $400.37 b. $417.23 c. $450.00 d. $475.37 e. $490.13