Author Question: In economics, money is A) a financial instrument backed by some precious metal such as gold or ... (Read 74 times)

wrbasek0 · **on:** Jun 30, 2018

In economics, money is

A) a financial instrument backed by some precious metal such as gold or silver.
B) whatever the government defines it to be.
C) anything that people generally accept in exchange for goods and services.
D) another term for income.

Question 2

Which of the following statements is true of the U.S. economy in the last 200 years?

A) The growth rate of GDP has been more than 10 per year.
B) The GDP per capita has decreased.
C) The GDP per capita has increased.
D) There has been no contraction in the economy.