10 out of 60?

1: The two main Ingredients of the U.S. Economy are:

natural resources and land

land and labor

natural resources and labor

land and money

2: The gross domestic product measures the total _____ of goods and services in a given year.

sale

output

profit

import

3: The American free enterprise system emphasizes:

public ownership

private ownership

both public and private ownership

not enough information

4: _______, the benefit from printing money.

Sovereignty

Seignorage

Seniority

None of the above

5: A policy is referred to as _______ if it reduces the size of the money supply or raises the interest rate. An _______ policy increases the size of the money supply, or decreases the interest rate.

contractionary, expansionary

expansionary, contractionary

fiscal, monetary

monetary, fiscal

6: During the 1870-1920 period the industrialized nations set up _______, with one of the last being the Federal Reserve in 1913.

credit unions

gold reserves

central banking systems

private banking systems

7: When used as part of a commodity money system, which of the following is not a function of paper currency?

to reduce the danger of transporting gold

to reduce the possibility of debasement of coins

to avoid the reduction in circulating medium to hoarding and losses

to avoid the decrease in value of precious stones

8: The gold standard, in theory, limits the power of governments to cause _______ by excessive issue of paper currency.

price inflation

unemployment

wealth and poverty

stagflation

9: The Mundell-Fleming Model describes the behavior of ______ under a gold standard.

the economy

stocks and bonds

currencies

all of the above

10: Approximately ____ of all above-ground gold is held in reserves by central banks.

10%

25%

50%

85%

10 out of 60?

1: The two main Ingredients of the U.S. Economy are:

natural resources and labor

2: The gross domestic product measures the total _____ of goods and services in a given year.

output

3: The American free enterprise system emphasizes:

private ownership

4: _______, the benefit from printing money.

Seignorage

5: A policy is referred to as _______ if it reduces the size of the money supply or raises the interest rate. An _______ policy increases the size of the money supply, or decreases the interest rate.

contractionary, expansionary

6: During the 1870-1920 period the industrialized nations set up _______, with one of the last being the Federal Reserve in 1913.

central banking systems

7: When used as part of a commodity money system, which of the following is not a function of paper currency?

to avoid the decrease in value of precious stones

8: The gold standard, in theory, limits the power of governments to cause _______ by excessive issue of paper currency.

price inflation

9: The Mundell-Fleming Model describes the behavior of ______ under a gold standard.

all of the above

10: Approximately ____ of all above-ground gold is held in reserves by central banks.

10%

10 out of 60?

This forum is not a good way to get people to do your homework. In my view, you would have better success in getting help, if you asked specific questions about things that you don%26#039;t understand.

10 out of 60?

I%26#039;ve done quite enough of your homework... get to work on choosing best answers for your questions then maybe someone will be interested in helping you out. If you keep this up in this section you%26#039;ll likely find yourself banned and then you%26#039;ll be stuck doing it yourself. I am quite happy that you are out of points... thankfully we can get to something else.