One characteristic of cattle that makes them unsuitable as a medium of exchange is that they are not easily divisible
a. True
b. False
Indicate whether the statement is true or false
True
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Today's U.S. dollar bills are "backed" by
A) nothing. B) Warren Buffet. C) barrels of oil. D) precious metals. E) U.S. Treasury Bonds.
Which of the following is correct?
a. Countries with the highest growth rates over the last 120 years are the ones that had the highest level of real GDP 120 years ago. b. Most countries have had little fluctuation around their average growth rates during the past 120 years. c. The ranking of countries by income changes little over time. d. Even though Japan had a higher growth rate of real GDP per person than the U.S. over the last 120 years, it's level of real GDP per person is less than that of the U.S.
If Americans demand goods produced in Mexico, it leads to a demand for Mexican pesos and a supply of U.S. dollars on the foreign exchange market
Indicate whether the statement is true or false
Which of the following would shift the U.S. short-run aggregate supply curve to the right?
a) A fall in the number of migrant workers from Mexico b) Higher oil prices c) An increase in welfare benefits d) An loosening of the restrictions on child labor