A. has no intrinsic value
B. has intrinsic value
C. is used exclusively in the economies of western Europe and north America
D. is used as reserves to back fiat money
Related Mcqs:
- A bank has excess reserves to lend but is unable to find anyone to borrow the money This will _________ the size of the money multiplier?
A. reduce
B. have no effect on
C. increase
D. double - If the quantity of money demanded exceeds the quantity of money supplied then the interest rate will ?
A. change in a certain direction
B. remain constant
C. fall
D. rise - Which of the following is included in broad money, but not included in narrow money ?
A. savings accounts
B. Travelers checks
C. Currency held outside banks
D. Automatic-transfer savings accounts - What is called the minimum price of a commodity that is fixed by government in order to save the interests of producer of raw materials ?
A. Floor price
B. Fixed price
C. Bid price
D. Basic price - Term the covering of a short position by purchasing a long contract, usually resulting from the short of a commodity ?
A. Short-positioning
B. Buyback
C. Drawback
D. None of them - Minimum price of a commodity fixed by government to save the interest of producer of raw materials is called ?
A. Floor price
B. Fixed price
C. Bid Price
D. Basic Price - To be considered a a good candidate for an export cartel, a commodity should ?
A. be a manufactured goods
B. be a primary product
C. have high price elasticity of supply
D. have a low price elasticity of demand - A set of alternative commodity bundles that a person can command in a society using the totality of rights and opportunities that he possesses is known as ?
A. Production possibilities
B. entitlement
C. income distribution
D. egalitarianism - Export primary commodity concentration ratios are ?
A. commodity exports as a percentage of GDP per capita of exporting country divided by importing country
B. export earnings as a ratio of population
C. total merchandise export divided by Gross National Income
D. food, raw materials minerals and organic oils and fat as a percentage of total merchandise exports - A country’s export commodity concentration ratio is the ?
A. average annual investment made in production of exported commodities
B. proportion of the primary export commodity in total exports
C. ratio of four leading commodities to total merchandise exports
D. total annual investment made in production of exported commodities
