The wide acceptance of fiat money is determined by: a. people's ...

[asan beg]

The wide acceptance of fiat money is determined by:
 a. people's belief that it is worth something.
 b. the amount of precious metal that the government holds to back the money.
  c. the money's market value as a commodity.
 d. the rate of interest, which is the price paid to borrow money.
 e. its ability to function as a unit of account.

Question 2

An economy's standard of living grows over the long run because of:
 a. better protection of domestic industries from foreign competition.
  b. centralized planning and decision making.
 c. technological improvements.
 d. stringent foreign trade policies.
 e. high growth rate of population.

[Moriaki]

Answer to Question 1

a

Answer to Question 2

c

[asan beg]

Thanks for the timely response, appreciate it

[amandalm]

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