Increases in the Rate of Innovation of New Financial Products

question 59

True/False

Increases in the rate of innovation of new financial products, whether successful or not, is often credited to advances in technology.

---

Definitions:

Civil Courts

Courts responsible for resolving non-criminal disputes, including cases involving contracts, property, and family law among others.

Gold Standard

A monetary system in which the standard economic unit of account is based on a fixed quantity of gold, enabling the conversion of currency into a certain amount of gold on demand.

Financial Policy

A government's strategy for managing its money, including taxation, spending, and borrowing decisions.

Interest-Bearing Bonds

Financial securities that promise to pay periodic interest payments and return the principal amount on a specified maturity date.