A group of countries that allows free trade among its members and puts up common barriers against all other countries' goods is called:
A. an autarky.
B. a tariff-free zone.
C. a most-favored-nation agreement.
D. a free trade association.
Answer: D
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Which of the following statements is true?
A) An excess demand for credit exerts an upward pressure on the real rate of interest. B) At rates of interest below the equilibrium rate, there is an excess supply of credit. C) An excess supply of credit exerts an upward pressure on the real rate of interest. D) At rates of interest above the equilibrium rate, there is an excess demand for credit.
Those who simultaneously buy and sell currency to take advantage of exchange rate differences are called
a. speculators b. hedgers c. entrepreneurs d. arbitrageurs e. underwriters
Which of the following are the components of the income approach to GDP?
a. wages, rents, interest, profits, investments, net exports b. wages, rents, interest, profits, depreciation, indirect business taxes c. wages, rents, investment, profits, depreciation, net exports d. wages, rents, investment, profits, net exports, indirect business taxes
Which of the following would an economist consider to be investment?
A. Boeing building a new factory. B. Oprah buying a $10 million home from a fellow celebrity. C. A stockbroker buying 10,000 shares of Starbucks stock. D. All of these.