Under a gold standard, if the market price of gold is below the official price of gold (set by the monetary authority), people will be more likely to sell gold __________________, which will cause the money supply to _______________ and the price level.to _______________
A) to the monetary authority; fall; fall
B) to the monetary authority; rise; rise
C) in the gold market; fall; fall
D) in the gold market; rise; rise
B
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When an asset is used as a universal yardstick that is used for expressing the worth of different goods and services, it is serving the function of a ________
A) unit of account B) medium of exchange C) store of value D) loanable fund
If the demand curve facing the monopolist is P = 70 ? 14Q, then the slope of its marginal revenue curve is:
A. ?35. B. ?7. C. ?28. D. ?14.
The regional Federal Reserve bank presidents are:
A. selected by the Federal Reserve Board of Directors. B. responsible for ensuring that money supply can adequately meet the demand for money. C. are responsible for overseeing the day-to-day actions of the regional banks. D. allowed to serve no more than two consecutive four-year terms.
Opportunities for arbitrage in the foreign exchange markets throughout the world are:
A. fleeting, because technology today allows quick trading that eliminate them quickly. B. plentiful, particularly in markets trading in U.S. dollars. C. plentiful, particularly in developing nations. D. fleeting, because most governments 'peg' or fix their currency's value to another's.