A considerable advantage that richer countries have over poorer ones is exemplified by the fact that
A) richer countries do not have to denominate their foreign debts in their own currencies.
B) richer countries have the ability to denominate their foreign debts in foreign currencies.
C) when demand falls for a poorer country's goods, this leads to a significant wealth transfer from foreigners to the poorer country, a kind of international insurance payment.
D) richer countries have the ability to denominate their foreign debts in their own currencies.
E) richer countries can extract trade advantages by using military power.
D
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Usury laws typically regulate
A. interest rates paid on savings. B. interest rates charged on loans. C. rents charged on land. D. economic rent earned in all factor markets.
Import-competing industries in the United States are likely to resist
A. Depreciation of the dollar. B. Devaluation of the dollar. C. Evaluation of the dollar. D. Appreciation of the dollar.
Suppose that a tire factory produces $825,000 of output and causes $70,000 worth of pollution as a result of production. The tire factory's official contribution to GDP would be ________ and its overall contribution to society would be ________.
A. $825,000; $895,000 B. $895,000; $825,000 C. $825,000; $755,000 D. $755,000; $825,000
If a college admits only a fixed number of applicants every year, then the school's supply curve for admissions is:
A. Perfectly elastic B. Perfectly inelastic C. Quite flat D. Downward-sloping