An individual wanting the most liquid asset possible will hold
A) currency.
B) a savings account.
C) gold.
D) U.S. government bonds.
A
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Problems with the use of commodity money include:
a. quality control. b. storage difficulties. c. inconvenience. d. spoilage. e. All of the above.
Foreign exchange refers to
a. trade with other countries. b. the currencies of other countries. c. the goods and services of other countries. d. the excess of exports over imports.
Long-term increases in productivity that have increased the demand for labor, and raised real wages, have resulted primarily from ________ and ________.
A. a modernized capital stock; an increased labor supply B. a modernized capital stock; skill-biased technological change C. technological progress; a modernized capital stock D. technological progress; an increased labor supply
What replaced the Bretton Woods system?
a. the gold standard b. a pooled currency system c. a free float system d. a managed float system e. fixed exchange rates