The exchange rate for a foreign currency that is determined by supply and demand is
A) a fixed exchange rate.
B) a controlled exchange rate.
C) a constrained exchange rate.
D) a flexible exchange rate.
D
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Refer to the figure above. What is the social surplus if the market is in equilibrium?
A) $50 B) $75 C) $100 D) $150
The quantity theory of money assumes that
A) the velocity of money is constant. B) the velocity of money is negative. C) the velocity of money fluctuates unpredictably. D) the velocity of money is zero.
Revenue sharing is usually a means of
a. making states transfer money to the federal government. b. equalizing expenditures per pupil made by school districts. c. splitting the revenue earned from excise taxes between states and the federal government. d. making grants to state and local governments.
Usury laws are associated with
A. rent. B. interest. C. wages. D. profits.