The "currency" of the IMF is the
A) International Currency Unit. B) Special Drawing Right.
C) U.S. dollar. D) IMF Dollar.
B
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Suppose that at the current level of output, Pat's Hats has fixed costs of $500, variable costs of $1,000 . and $2,000 in total revenue. Which of the following is true?
a. Profit is currently $500 and, in the long run, it will be $1,000 because there will be no fixed costs. b. Profit is currently $500 and, in the long run, it will be $1,500 because there will be no variable costs. c. Profit is currently $500. d. Profit is currently $500, and Pat's Hats will want to decrease its plant size in the long run to lower its fixed costs. e. Pat's Hats will continue to operate as long as revenue is greater than $500.
Suppose that prices in France increase by 8 percent while prices in the United States remain relatively stable. We would expect that (on the foreign exchange market) the demand for U.S. dollars will __________ and the supply of U.S. dollars will __________
A) increase; decrease B) increase; increase C) decrease; decrease D) decrease; increase
The ____________ model best explains intra-industry trade.
a. Ricardian b. Heckscher-Ohlin c. monopolistic competition d. specific-factors
A change in the price of a good leads to a change in the demand of the good.
Answer the following statement true (T) or false (F)