In the early twentieth century, general stores in the upper Midwest had more power over prices because:
a. they acted as intermediaries between farmers and buyers.
b. the transportation network was bad, leaving farmers and buyers with no alternatives except the general stores in small towns.
c. inventories at the general stores were low and demand was high.
d. stockouts were a chronic problem and there was little variety.
B
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One cost that potentially could result from central banks targeting money growth is:
A. volatile interest rates. B. decreased independence. C. high inflation. D. a slowdown in financial innovation.
Recall the Application about the impact inflation has on your potential future salary and the repayment of student loans to answer the following question(s).According to this Application, if you earn a salary of $40,000 in the first year and all prices are cut in half in the next year. How will this affect the time it takes to pay off your school loans, assuming that you put all your earnings into paying it off? Assume that your debt is $40,000.
A. It will cut the payoff time to 1/3 of the original time. B. It will cut the payoff time to 1/2 of the original time. C. It will cut the payoff time to 2/3 of the original time. D. It will double your payoff time.
Which of the following is not a defining characteristic of globalization?
a. Increased cross-border flow of trade in goods b. Increased cross-border flow of trade in services c. Increased international mobility of information d. Increased frequency of wars e. Increased mobility of individuals across borders
The dominant currencies in the international bond market are the euro and the U.S. dollar
a. true b. false