Money that some authority, generally a government, has ordered to be accepted as a medium of exchange is called _______ money.

A Fed purchase of gold, SDRs, a deposit denominated in a foreign currency or any other asset is just an open market ________ of these assets, ________ the monetary base

A) purchase; raising B) sale; raising C) purchase; lowering D) sale; lowering

A law that encourages market competition by prohibiting firms from gaining or exercising excessive market power is

a. a patent. b. impossible to enforce. c. an antitrust law. d. an externality law.