Which of the following is an example of representative money?
(A) An IOU note
(B) Gold earrings
(C) A fur coat
(D) Diamonds
Ans: (A) An IOU note
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Everything else equal, if the dollar appreciates against the peso:
A) U.S. will export more to Mexico and will import less from Mexico. B) U.S. exports to Mexico and imports from Mexico will decrease. C) U.S. exports to Mexico and imports from Mexico will increase. D) U.S. will import more from Mexico and will export less to Mexico.
The NYSE is also called
A) the over-the-counter market. B) the Big Board. C) the Central Market. D) the Exchange.
Large firms that invest in specific assets which cannot easily be redeployed to other uses or locations, may be able to protect their profits for longer than if they do not make such investments
Indicate whether the statement is true or false
Which of the following is true of a monopoly? a. The price charged by a monopoly is lower than that in other markets. b. New firms can enter a monopoly
c. A monopolist is a price setter. d. Substitutes are available for a monopolist's products.