Which of the following countries has adopted the U.S. dollar as its own currency?
A) Ecuador
B) Mexico
C) Canada
D) France
E) Australia
A
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According to a royal investigation in 1623 of the English colonies in Virginia, the average life expectancy of newly arrived setters was
a. 2 years. b. 5 years. c. 10 years. d. 20 years.
What is the largest possible loss that is consistent with a firm producing in a perfectly competitive market in long-run competitive equilibrium?
a. An amount equal to (price less average variable cost). b. An amount equal to total variable. c. Zero. d. An amount equal to total fixed cost.
In the AD/AS model, the aggregate demand for goods and services is composed of the purchases made by
a. households and foreigners (net exports). b. businesses, bondholders, and foreigners (net exports). c. businesses and governments. d. consumers, investors, governments, and foreigners (net exports).
Marginal utility is the:
A. sensitivity of consumer purchases of a good to changes in the price of that good. B. change in total utility obtained by consuming one more unit of a good. C. change in total utility obtained by consuming another unit of a good divided by the change in the price of that good. D. total utility associated with the consumption of a certain number of units of a good divided by the number of units consumed.