Round 2: Tossup 14

In a graph of this good’s market, a vertical supply curve intersects a downward-sloping demand curve with nominal interest rate plotted on the y-axis. Proponents (10[1])of a heterodox (10[1])“Modern” theory named for this good (10[2])include Stephanie Kelton. The producer of this good receives a profit called seigniorage (“SANE-yur-idge”). Types of this good with more inherent value are predicted to disappear by Gresham’s Law. (-5[2])Types of this good are traded in (10[1])the forex market. (10[1]-5[1])Fiscal policy and policy (10[1])named after this good make up (10[1])a government’s economic policy. Types of this good that have no inherent value are called fiat. For 10 points, name this thing that can be exchanged for any good or service. (10[1])■END■ (10[2])

Back to tossups

Buzzes

Summary