Which of these would NOT be considered a middleman in a market?
A) a produce wholesaler
B) a wheat farmer
C) a cellphone retailer
D) a meat distributor
Answer: B
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China's exchange rate system from 1994 through 2005 is an example of
A) a flexible exchange rate system. B) a fixed exchange rate system. C) a managed float exchange rate system. D) the Bretton Woods System. E) a floating exchange rate system.
If the exchange rate goes from $2.00 = 1 € to $1.80 = 1 €, the result is a
A) 10% depreciation of the euro with respect to the dollar. B) 10% depreciation of the dollar with respect to the euro. C) 10% appreciation of the euro with respect to the dollar. D) None of the above.
Different banks:
A. all offer loans at the same interest rate. B. may offer loans at different rates. C. are mandated to follow the Fed's set interest rate. D. never offer loans at exactly the same rates.
Hu earns $120,000 per year. He is charged a 20% tax on the first $80,000 he earns. He is charged a 30% tax for any income he earns between $80,000 and $200,000. If he were to earn an extra $5,000 this year, what would his marginal tax rate be?
a. 10% b. 20% c. 23% d. 30%