On april 2, 1862, the first greenback left the u. s. treasury, marking the start of a new era in the american monetary system.

at the start of the civil war, the u. s. didn't have a national paper currency. instead, the money supply consisted of u. s. coins and a collection of paper notes issued by private banks. technically, the federal government began issuing its own paper currency in 1861. that year, the lincoln administration issued $60 million in demand notes, a variant of a treasury note that was redeemable "on demand" for gold coins at the treasury or any sub-treasury.

these notes were overshadowed in 1862 by the issue of $150 million in a new fiat currency officially known as united states notes and popularly known as greenbacks or legal tenders. by the end of the war, close to $450 million worth of greenbacks were in circulation.

What is the opportunity cost in this scenario? harry has been very busy at work for the past two weeks. he has been working weekends too. finally, he is going to get a weekend off. originally, he planned to paint his apartment that weekend. he also considered going fishing for the weekend. but then his parents called and asked him to come for dinner because it has been a while since they have seen each other. later on, his friend theo informed him about a surprise birthday party for another friend. theo plans to reserve a room at a restaurant for the celebration, with the cost to reserve the room split between theo, harry, and three other friends. now harry is confused about what he should do over the weekend. he decides that, for him, the most important commitments are going over to his parent's house and attending his friend's birthday party. in the end, harry decides to see his parents.

The u.s. stock market has returned an average of about 9% per year since 1900. this return works out to a real return (i.e., adjusted for inflation) of approximately 6% per year. if you invest $100,000 and you earn 6% a year on it, how much real purchasing power will you have in 30 years?

phillips, inc. had the following financial data for the year ended december 31, 2019. cash $ 41,000 cash equivalents 75,000 long term investments 59,000 total current liabilities 149,000 what is the cash ratio as of december 31, 2019, for phillips, inc.? (round your answer to two decimal places.)