Which of the following backs our money supply?
A) The words "This note is legal tender."
B) The faith in the government
C) The faith that people will take it in exchange for goods and services
D) Precious metals
Correct Answer:
Verified
Q49: One point virtually all economists agree on
Q50: M1 includes:
A)cash and travelers' checks.
B)cash, checking account
Q51: Which of the following is not a
Q52: Which of the following is the best
Q53: One major problem with some commodity monies
Q55: The idea behind money as a standard
Q56: Which of the following is not included
Q57: "Near monies" are:
A)included in the M1 definition
Q58: Fiat money has value because:
A)it is backed
Q59: The difference between M1 and M2 is
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