This topic contains a solution. Click here to go to the answer

Author Question: Commodity money is money that: a. has no value as a commodity. b. is not backed by gold or silver ... (Read 186 times)

Ebrown

  • Hero Member
  • *****
  • Posts: 567
Commodity money is money that:
 a. has no value as a commodity.
  b. is not backed by gold or silver and is not a legal tender.
  c. may go out of circulation with an increase in its intrinsic value.
  d. always has a face value greater than the intrinsic value.
  e. is solely used in barter exchanges.

Question 2

In the three months before a 1 per pack cigarette tax took effect in Alaska, smokers bought 175 million more cigarettes than during the same period a year earlier. What explains this behavior by consumers?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jennafosdick

  • Sr. Member
  • ****
  • Posts: 345
Answer to Question 1

c

Answer to Question 2

The increase of 1 per pack is pretty significant given the price of cigarettes. Many smokers may have decided that the best way to save money would be to stockpile cigarettes before the expected tax increase took effect. So an expectation of a price increase in the near future caused the current demand curve for cigarettes to shift to the right (an increase in demand).




Ebrown

  • Member
  • Posts: 567
Reply 2 on: Jun 30, 2018
Wow, this really help


  • Member
  • Posts:
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

For a complete list of videos, visit our video library