Which of the following is not a Eurocurrency claim?
A) A U.S.-dollar deposit by a London firm in a Cleveland bank
B) A sterling deposit by a London firm in a New York bank
C) A U.S.-dollar deposit by a London firm in a London bank
D) A Yen deposit by a New York firm in a London bank
A
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If a firm can adjust its employment of all inputs, then it is
a. experiencing economies of scale. b. in the long run. c. off its expansion path. d. limited only by the capacity of its fixed capital.
If a 1 percent increase in price leads to a .7 percent increase in quantity supplied, the short-run supply curve is:
a. elastic. b. inelastic. c. unit elastic. d. perfectly inelastic.
The equation of exchange is written as
a. V = PQM b. MQ = PV c. M = QVP d. MQ = P e. MV = PQ
Economic problems are made manageable by stripping away some of the unnecessary details.
Answer the following statement true (T) or false (F)