-In Ithaca, NY, Ithaca Hours, Valued at the Area's Average

question 182

Multiple Choice

-In Ithaca, NY, Ithaca Hours, valued at the area's average hourly wage ($10) , can be used to buy goods and pay for services. About 5,700 Ithaca Hours are in circulation. Because they are accepted in local stores and accepted by local people as income, Ithaca Hours:

• A)although less liquid than Fed Notes, are money because they are accepted as money.
• B)are money because they are backed by the local government.
• C)are not money because they do not serve as a medium of exchange.
• D)are not money because their value depends upon the area's average hourly wage.

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Definitions:

District Attorneys

Public officials who represent the government in the prosecution of criminal offenses.

Public Defenders

Legal attorneys appointed by the court to represent individuals who cannot afford to hire a private lawyer in criminal proceedings.

Deceptive Tactics

Strategies or maneuvers in negotiations or competitions aimed at misleading or tricking the other party to gain an advantage.

Desirability

The quality of being wanted or wished for due to attractiveness, usefulness, or value.