Which of the following is not an example of money used as a unit of account?
a. A British pound is worth $3.00.
b. Auto repairs were $3,000 last year.
c. Business travel totaled 12,000 miles.
d. Gasoline sells for $1.20 per gallon and oil is $5.00 per quart.
d
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Other things the same, if the Japanese real interest rate were to increase, Japanese net capital outflow
a. and net capital outflow of other countries would rise. b. and net capital outflow of other countries would fall. c. would rise, while net capital outflow of other countries would fall. d. would fall, while net capital outflow of other countries would rise.
The monopolist's input demand curve is the
A. marginal physical product curve. B. marginal factor cost. C. marginal revenue curve. D. marginal revenue product curve.
A U.S. importer purchases 5,000 British pounds for $10,000. The rate of exchange is
A. $1 = 1. B. $1 = 2. C. $1 = .5. D. $2 = 1.
An average tax rate of 20 percent on the poor and 1 percent on the rich would be
A. progressive. B. proportional. C. regressive.