The figure below illustrates the market for British pounds. D£ and S£ are the nonofficial demand and supply curves of the British pounds, respectively.
Who among the following groups will most likely benefit if the exchange rate is pegged at $2.50 per pound?
A. British importers
B. Import-competing producers in the U.K.
C. U.S. importers
D. British exporters
Answer: A
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Debit cards and e-checks are not money because
A) they can be forged easily. B) they can fail their purpose of being mediums of exchange as a result of technical difficulties. C) they are just instruments to transfer money between people. D) not all banks offer them and not all businesses accept them. E) they are not regulated by the government.
A vertical line always has a slope of one.
Answer the following statement true (T) or false (F)
Sally lost her job when her company went out of business because of a recession. This is an example of
Investment is the process by which new capital is added to an economy.
Indicate whether the statement is true or false.