A composite currency whose value is the average of the values of the U.S. dollar, the Japanese yen, the euro, and the British pound is known as a:
a. special drawing right.
b. productive resource.
c. standard of value.
d. scarce diligence resource.
e. scarce delivery resource.
a
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In the aggregate expenditure (AE) model, when real GDP exceeds aggregate planned expenditure, actual inventories ________ planned inventories and real GDP ________
A) are less than; decreases B) exceed; increases C) exceed; does not change D) are less than; increases E) exceed; decreases
Which of the following would contribute to a positive trade balance for a country?
A) having tourists visit the country B) importing textiles C) having foreign residents buy the government bonds of the country D) importing financial services
Another word for elasticity is:
a. responsiveness. b. happiness. c. bonus d. profit. e. surplus.
When the Fed sells bonds and drains reserves from the banking system, thereby reducing the supply of money, this policy will
a. decrease short-term interest rates to a greater degree than long-term interest rates. b. decrease long-term interest rates to a greater degree than short-term interest rates. c. increase short-term interest rates to a greater degree than long-term interest rates. d. increase long-term interest rates to a greater degree than short-term interest rates.