Americans needing foreign currencies get those currencies from a bank. The ultimate source of these currencies is
a. U.S. investments abroad.
b. U.S. exports to foreign countries.
c. U.S. imports of foreign goods and services.
d. the International Monetary Fund.
b
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According to opportunity-cost theory, if the public lost most of its interest in spectator sports,
A) athletes would have to charge more for their services in order to survive. B) the cost of hiring professional athletes would fall. C) the cost of hiring professional athletes would rise. D) the cost of hiring professional athletes would remain the same.
All of the following are possible outcomes of a banking crisis EXCEPT
A) depositors, but not banks, may lose all or a portion of their assets. B) a recession due to decreases in consumption by households. C) decreases in lending practices by banks. D) decreases in investment. E) a contagion effect of the crisis from vulnerable banks to financial institutions on sound basis.
Pollution and other negative externalities arise because
a. there are no enforceable property rights to open-access resources b. legislators cannot agree on what to do about them c. they are the price consumers are willing to pay for production of goods and services d. private property rights to pollute are controlled by businesses e. science cannot decide how to control them
Which is not characteristic of a centrally planned economy?
a. The central government owns all land and capital. b. The central government makes all economic decisions. c. Each collective or factory sets its own goals. e. Each person is assigned a job.