In the United States, currency holdings per person average about
a. $110; one explanation for this relatively small average is that many people use credit and debit cards to make transactions.
b. $110; one explanation for this relatively small average is that U.S. citizens hold a lot of foreign currency.
c. $4,490; one explanation for this relatively large amount is that criminals probably prefer currency as a medium of exchange.
d. $4,490; one explanation for this relatively large average is that U.S. citizens hold a lot of foreign currency.
c
You might also like to view...
Which of the following policies would be expected to increase private saving?
A. Increasing the tax rate on capital gains B. Replacing the income tax with a consumption tax C. Reducing the size of down payments needed to buy a house D. Providing more generous Social Security retirement benefits
The currency exchange rate is the rate at which one nation's currency can be exchanged for another
Indicate whether the statement is true or false
Suppose you are the manager of Natural Oils, a firm that specializes in healthy skin oils. To make your oils, you purchase avocado pits from guacamole manufacturers. If the demand for guacamole increases, this will cause the production of avocado pits to ________ and the price of avocado pits to ________.
A) increase; fall B) decrease; fall C) increase; rise D) decrease; rise
Money is a good store of value
A. when the average price level is rising. B. when the economy is experiencing severe inflation. C. when the average price level falling. D. when the unemployment rate is high.