The principal reason(s) that so much U.S. currency is held outside the U.S is (are) ________
A) many people around the world trust the U.S. dollar more than any other currency
B) banks all around the world find it convenient to hold large amounts of U.S. dollars
C) U.S. citizens and corporations spend a lot of dollars abroad
D) all of the above
E) none of the above
A
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If the price of a good decreases from $9 to $6 and the quantity supplied decreases from 1,500 to 1,300, using the midpoint formula the elasticity of supply equals
A) 0.20. B) 2.80. C) 0.36. D) 0.40. E) 3.20.
When a foreign firm sells its exports at a lower price than its cost of production, the firm is
A) imposing an economies of scale cost. B) dumping. C) avoiding a tariff. D) competing in an infant industry.
China's current rate of GDP growth is quite rapid. Its current growth rate is probably three times that of the United States. However, the levels of pollution are much higher in China
Would you consider China to be better off than the United States given this information? Why or why not?
Money is
a. the most liquid asset and a perfect store of value. b. the most liquid asset but an imperfect store of value. c. not the most liquid asset but a perfect store of value. d. neither the most liquid asset and nor a perfect store of value.