Rolnick and Weber point out that a bimetallic standard will not exhibit Gresham's Law if:
a. people are willing to use coins at their market values.
b. people are willing to use coins at their face values.
c. the government regulates the quantity of each type of coin in circulation.
d. paper money circulates along with minted coins.
a. people are willing to use coins at their market values.
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Since the 1980s, China's output per person has increased tremendously. Which of these possible contributors to economic growth in China is a good example of a positive supply shock?
A) high levels of saving and investment B) declining rate of population growth C) rising consumption of energy D) all of the above E) none of the above
John's demand for McDonald's cheeseburgers is an example of:
a. Market Demand b. Individual Demand c. Category Demand d. Unit Demand