On January 25, 2009, one U.S. dollar traded on the foreign exchange market for about 0.75 euros. Therefore, one euro would have purchased about ________ U.S. dollars
A) 0.75
B) 1.00
C) 1.33
D) 1.75
C
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Indifference curves are convex to the origin because of:
A) transitivity of consumer preferences. B) the assumption of a diminishing marginal rate of substitution. C) the assumption that more is preferred to less. D) the assumption of completeness. E) none of the above
Barter may be the only alternative: a. if the supply of money dries up. b. if the price system is not allowed to function properly. c. if disinflation sets in
d. if hyperinflation sets in. e. if fiat money is discontinued.
Hudson Manufacturing is an MNE based in the United States with operations in Asia. The firm is considering expansion into the European Union. Executives at the firm are debating whether central Europe or Eastern Europe would be best for the firm. Which of the following best supports a decision to establish operations in Eastern Europe?
A) Hudson wants to implement a high-performance work system. B) Hudson plans to staff the foreign facility with local managers. C) Hudson wants to minimize costs by keeping wages low. D) Hudson recently lost money in a joint venture.
Which one of the following is a function of the Federal Reserve System?
A. providing a system for check clearing B. serving as a lender of last resort C. providing the economy with currency D. all of these