Which of the following was the reserve currency under the gold exchange standard?
a. U.S. dollar
b. Euro
c. Great Britain pound
d. Australian dollar
e. Deutsche mark
a
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At a profit-maximizing output level,
a. marginal revenue minus marginal cost equals zero. b. marginal profit equals zero. c. the slope of the total profit curve is zero. d. All of the above are true.
Three established firms—Cobb, Urban, and Sing—are in business in the United States. Which of the following events suggests that an oligopoly exists in their industry?
a. Two new competitors enter the industry after Urban raises its output. b. Cobb and Urban suffer a sales loss after Sing lowers its prices. c. Cobb make its business plan without paying attention to Urban or Sing. d. Sing suffers a sales loss after Cobb raises its prices.
The slope of a line is the:
A. change in the value on the vertical axis divided by the change in the value on the horizontal axis. B. value on the horizontal axis divided by the value on the vertical axis. C. value on the vertical axis divided by the value on the horizontal axis. D. change in the value on the horizontal axis divided by the change in the value on the vertical axis.
According to the Consider This box about hypothetical countries Slogo, Sumgo, and Speedo, small differences in __________ make for large differences in _________ over several decades, assuming the same growth of population for each
country. A. inflation rates; unemployment rates B. unemployment rates; economic growth rates C. economic growth rates; real GDP per capita D. tax rates; real GDP per capita