Author Question: The wide acceptance of fiat money is determined by: a. people's belief that it is worth something. ... (Read 167 times)

asan beg · **on:** Jun 30, 2018

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.