Capital control is described by all of the following EXCEPT:
a. restricting merchandise trade.
b. restricting the trade in foreign exchange.
c. channeling the currency trade through the government.
d. restricting cross-border financial transactions.
Ans: a. restricting merchandise trade.
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The model that economists use for illustrating the process of individual choice in a situation of scarcity is the _____, sometimes also called the opportunity set, a diagram which shows what choices are possible.
A. opportunity set B. consumption choice C. time value of money D. risk premium
Which of the following would cause the supply of dollars curve in the United States to shift to the right?
a. Japanese imports become less popular. b. The value of the dollar falls. c. The supply of dollars decreases. d. Japanese imports became more popular.
Oligopoly occurs when
A. a few firms sell many different products. B. a few firms sell to a few large buyers. C. many firms dominate a single market. D. a few firms dominate a single market.
According to the government budget constraint, any excess of public expenditures and transfers over taxes and user fees must be funded by
A. U.S. Treasury money creation. B. private borrowing. C. Federal Reserve money creation. D. government borrowing.