Round 3: Tossup 14

In a graph of this good’s market, a vertical supply curve intersects a downward-sloping demand (10[1])curve with nominal interest rate plotted on the y-axis. Proponents (10[1])of a heterodox “Modern” theory named for this good include Stephanie Kelton. The producer of this good receives a profit called seigniorage (10[1])(“SANE-yur-idge”). Types of this good (10[1]-5[1])with more (10[1])inherent value are predicted to disappear by Gresham’s Law. Types of this good are traded in the forex market. (10[3])Fiscal policy and policy (-5[1])named after this good (10[1])make up a government’s economic policy. Types of this good that have no inherent value are called fiat. For 10 points, (10[1])name this thing that (10[1])can be exchanged for any good or service. ■END■ (10[1])

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