What happens to the purchasing power when prices rise?
A) The purchasing power of money increases.
B) The purchasing power of money decreases.
C) The purchasing power of money remains unchanged.
D) The purchasing power of money either increases or decreases, depending upon the size of the national debt.
Correct Answer:
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Q49: When is money considered to be legal
Q50: What is fiat money backed by?
A) gold
Q51: When does fractional reserve banking occur?
A) when
Q52: What was the first step in the
Q53: Who were most likely the first bankers?
Q55: Which of the following is an important
Q56: Who were the original bankers?
A) seigniors
B) governments
C) savings and
Q57: How is the value of money determined?
Q58: Why does fiat money have value?
A) because
Q59: What kind of reserve system do modern
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