People in other countries want to hold U.S. dollars as a
A. standard of deferred payment.
B. unit of account.
C. medium of exchange.
D. store of value.
Answer: D
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U.S. potential GDP is the value of the goods and services produced in the United States ________
A. in the reference base year B. when the U.S. unemployment rate is zero C. when the U.S. economy is at full employment D. when the U.S. inflation rate is zero
Perfectly elastic demand curves are vertical
a. True b. False Indicate whether the statement is true or false
The principal-agent problem:
A. is when the principal has more information than the agent. B. is when the principal and agent have the same objectives. C. is when the agent is tempted to put in more effort than the principal would like. D. is commonly seen in the employer-employee relationship.
Which one of the following transactions would be included in GDP?
What will be an ideal response?