A convertible currency is a currency that may be freely exchanged for
A) domestic assets.
B) only silver.
C) only copper.
D) national currency.
E) foreign currencies.
E
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When a positive externality exists in a market, total surplus:
A. is decreased by deadweight loss compared to that same market without a negative externality. B. is the same as a market without a negative externality. C. is increased by deadweight gain compared to that same market without a negative externality. D. is the same but re-distributed differently than if that same market did not have a negative externality.
Price discrimination
a. forces monopolies to charge a lower price as a result of government regulation. b. is an attempt by a monopoly to prevent some customers from purchasing its product by charging a high price. c. is an attempt by a monopoly to increases its profit by selling the same good to different customers at different prices. d. increases the consumer surplus associated with a monopolistic market.
If the MPC were to increase from 0.75 to 0.8, then the spending multiplier would:
A. increase from 4 to 5. B. decrease from 1.25 to 1.2. C. decrease from 5 to 4. D. increase from 0.2 to 0.25.
After a tax is placed on a good or service, which of the following does NOT occur?
A. The total volume of sales of the good or service increases. B. Buyers pay more for the good or service. C. Sellers receive less when they produce and sell the good or service. D. Government revenues decrease.