In what sense do self-fulfilling expectations determine the acceptability of a medium of exchange?
A) People like to do what the government expects them to do.
B) People value something as money only if they believe others will accept it from them as payment.
C) People expect that money will never lose its value.
D) People expect that eventually every country will use the same medium of exchange.
B
Economics
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Firms in industries that have competitors but do not face so much competition that they are price takers are operating in either a(n)
a. oligopoly or perfectly competitive market. b. oligopoly or monopoly market. c. oligopoly or monopolistically competitive market. d. monopoly or monopolistically competitive market.
Economics
Why is there a free-rider problem with public goods?
Please provide the best answer for the statement.
Economics