Which of the following BEST describes the special drawing right?
A) an international reserve asset created to supplement members' existing reserve assets
B) the official currency for international trade established by the World Bank
C) a substitute for the fixed value of gold as determined by currency rates
D) a contribution made by countries to join the IMF
A) an international reserve asset created to supplement members' existing reserve assets
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A single-price monopoly faces a linear demand curve. If the marginal revenue for the second unit is $20, then the marginal revenue for the
A) first unit is less than $20. B) third unit is less than $20. C) third unit is more than $20. D) third unit is also $20. E) more information is needed to determine if the marginal revenue for the third unit is more than, less than, or equal to $20.
The adult population of a country is 50 million. 35 million form part of its labor force. The labor-force participation rate in this country is _____
a. 50% b. 30% c. 70% d. 35%
What ultimately determines what is produced under the concept of consumer sovereignty?
a. owners of capital b. government planning officials c. people who buy products d. people who make products
The theory of efficient markets:
A. allows for higher than average returns if the investor takes higher than average risk. B. assumes people have equal luck. C. rules out high returns due to chance. D. says insider information makes markets less efficient.