Which of the following might explain why the United States has so much currency per person?
a. U.S. citizens are holding a lot of foreign currency.
b. Currency may be a preferable store of wealth for criminals.
c. People use credit and debit cards more frequently.
d. All of the above help explain the abundance of currency.
b
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When people in the United States answer government surveys about how they feel about things, most report they are:
a. Very happy b. Pretty happy c. Not too happy d. Miserable
IMF advice to countries such as Russia and Argentina that suffer from exchange rates crises often requires these countries to adopt
a. fixed exchange rates. b. expansionary monetary policies. c. contractionary monetary policies. d. state ownership of industry.
If M = $1,200 billion and V = 4, then total spending is _______________billion. Then velocity falls to 2 and M rises to $2,000 billion, so that total spending is now _______________ billion, and GDP has _________________
A) $4,800; $4,000; declined B) $300; $1,000; risen C) $4,800; $4,000; risen D) $1,204; $2,002; risen
If it takes three times as many resources to make a car in Nigeria as in Mexico and it takes twice as many resources to grow wheat in Mexico as in Nigeria, we say that Mexico enjoys an absolute advantage in the production of _____ and Nigeria enjoys an absolute advantage in the production of ______.
Fill in the blank(s) with the appropriate word(s).