The movement to set up a central bank in the United States was spurred by the financial panic that occurred in
A) 1816.
B) 1907.
C) 1929.
D) 1987.
B
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Assuming a competitive world, does your country have a comparative advantage in making pizza? You can get your answer by
a. observing if your country makes more pizza than any other country b. comparing pizza prices in other countries c. calculating the opportunity cost of a pizza in your country d. comparing the opportunity cost of producing pizza in your country with the opportunity cost of producing pizza in other countries e. comparing your country's terms of trade to the terms of trade in other countries
If the demand curve and the supply curve for a good are straight lines, then the deadweight loss that results from a tariff is represented on the supply-and-demand graph by
a. the area of one triangle. b. the area of one rectangle. c. the combined areas of two different triangles. d. the combined areas of two different rectangles.
What factors have served to open up world markets to increased international trade?
a. improvements in communications and transportation b. increased tariffs and legislation protecting industries c. an emphasis on regional markets and local sourcing d. climate change and rising environmental awareness
Currency (paper money plus coins) constitutes about:
A. 24 percent of the U.S. M1 money supply. B. 45 percent of the U.S. M1 money supply. C. 51 percent of the U.S. M1 money supply. D. 55 percent of the U.S. M1 money supply.