Which of the following is true of fiat money?
A) Fiat money is illegal and difficult to counterfeit.
B) The raw materials required for the production of fiat money are available only in a few countries.
C) Fiat money is not backed by a physical commodity.
D) The technology required to produce fiat money is not widely available.
Question 2
Microeconomics is best described as the study of
A) the choices made by individual households, firms, and governments.
B) marginal changes in the economy.
C) inflation, unemployment, gross national product, and the nation's economy as a whole.
D) how markets interact in the aggregate economy.
Staff members often find it difficult to communicate with other coworkers.
Masaccio, The Tribute Money.
Which is TRUE about the alternation of generations cycle that is diagramed above?
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Students and Money