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Q5_f07 - Temple University Economics 1101 Fall 2007 Quiz#5...

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Temple University Economics 1101 Fall, 2007 Quiz #5 Name __________________________________ A. Multiple Choice (2 points each) Please circle the most appropriate response. 1. The innovation of money helped economies prosper because it a. Reduced transactions costs b. Reduced people’s reliance on the government c. Led to the development of prices and hence of free markets d. Sparked technological progress by reducing interest rates 2. According to our definition, milk would not make good money because it is not 3. A fiat money system exists when a nation’s currency
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