A complicating factor in international trade is that
A. barter is the basis for trade between countries; money is not used.
B. gold is used for payments; there are no international payments without gold.
C. many other countries prefer to use the U.S. dollar as currency, causing monetary shortage in the United States.
D. trade between countries requires different currencies rather than one currency.
Answer: D
You might also like to view...
The above figure shows Jane's budget line and two of her indifference curves. Which of the following happens to Jane's budget line if the price of a lobster dinner fell?
A) It would rotate inward around the vertical intercept, 10 lobster dinners. B) It would rotate outward around the vertical intercept, 10 lobster dinners. C) It would rotate inward around the horizontal intercept, 20 steak dinners. D) It would rotate outward around the horizontal intercept, 20 steak dinners.
A monopoly price reflects a good's marginal utility
a. True b. False Indicate whether the statement is true or false
Which tax is fixed at 15.3 percent of wages?
a. FICA b. federal income c. property d. Medicaid
An unregulated natural monopolist would produce to the point at which
A) P = AC. B) MR = AC. C) MR = MC. D) P = MR.