Foreign currency assets held by a government for the purpose of purchasing domestic currency in the foreign exchange market are called:
A. fixed-exchange-rate deposits.
B. balance-of-payment currency.
C. purchasing-power-parity funds.
D. international reserves.
Answer: D
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Refer to the figure below. 
The dominant strategy for Row Resorts is to ________, and the dominant strategy for Column Cruises is to ________.
A. offer reduced rates; offer reduced rates B. offer reduced rates; keep rates high C. keep rates high; offer reduced rates D. keep rates high; keep rates high
A flat tax:
A. takes the same percentage of taxes from income from all taxpayers. B. requires those with low incomes to pay a smaller percentage of their income than high-income people. C. is levied so that low-income taxpayers pay a greater proportion of their income toward taxes than high-income taxpayers. D. taxes everyone the same amount, regardless of their income.
William is a wheat farmer and wheat sells in a perfectly competitive market, with an equilibrium price of $5 per bushel. Its marginal revenue: a. is greater than $5
b. is $5. c. is less than $5. d. cannot be determined from the above information.
A PPF is more likely to be a downward-sloping curve that is bowed outward than a downward-sloping straight line because most resources are
A) better suited for the production of some goods than others. B) used efficiently. C) relatively cheap at low levels of output. D) used to produce consumption goods.