Which of the following information about fiat money is false? Fiat money
A) has little to no value except as money.
B) serves as a medium of exchange.
C) is backed by gold.
D) is authorized by a central bank or governmental body.
C
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________ is the market value of production generated by the factors of production possessed or owned by the residents of a particular nation
A) Gross domestic product B) Total Market Value C) Gross National Product D) Net domestic product
Suppose the economy is operating on the LM curve but not on the IS curve. Given this information, we know that
A) the goods market is in equilibrium and the money market is not in equilibrium. B) the money market and bond markets are in equilibrium and the goods market is not in equilibrium. C) the money market and goods market are in equilibrium and the bond market is not in equilibrium. D) the money, bond and goods markets are all in equilibrium. E) neither the money, bond, nor goods markets are in equilibrium.