Considering foreign exchange transactions:
A. the U.S. dollar is exchanged in roughly 50% of all currency transactions.
B. most of these transactions are handled in New York.
C. more transactions are handled in London than anywhere else.
D. all transactions involve the use of the U.S. dollar.
Answer: C
You might also like to view...
Suppose a sales tax of $1 is imposed on DVDs. Suppose the tax causes the price received by suppliers of the DVDs to fall by 60 cents. In this situation, the economic incidence of the sales tax
a. falls more heavily on the demanders of DVDs. b. falls more heavily on the suppliers of DVDs. c. is evenly split between the demanders and suppliers of the DVDs. d. is the same as the legal incidence of the tax.
Which of the following is not subject to scarcity?
a. water b. steel c. diamonds d. none of the above
When we say that trade is roundabout we mean that
a. people sometimes trade goods for goods. b. trades require a double coincidence of wants. c. currency is accepted primarily to make further trades. d. people must spend time searching for the products they wish to purchase.
The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.