Suppose that the federal government suddenly declared that wheat was to be used as money.What is a possible outcome of that decision?
A) The value of the "wheat dollar" would be unstable depending on crop yields from year to year.
B) Farmers would replace corn and soy crops with wheat.
C) Wheat would function as money so long as people accept it in exchange for goods and services.
D) All of these are possible outcomes.
Correct Answer:
Verified
Q22: Coins held in commercial bank vaults are
A)
Q26: "Near monies" are included in
A) both M1
Q28: The difference between M1 and M2 is
Q29: Currency held in bank vaults Which of
Q31: Near monies
A)include all financial and real assets
Q37: The near-money components of M2 are
A) equally
Q37: The largest component of the money supply
Q38: A $20 bill is a
A)gold certificate.
B)Treasury note.
C)Treasury
Q44: Time deposits of $100,000 or more are
A)
Q51: If the price index rises from 100
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