A nation's account with the International Monetary Fund is measured in an international unit known as
A) international reserves. B) special drawing rights.
C) monetary deposits. D) monetary rights.
B
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Over the last 30 years, the income gap between the rich and the poor has declined.
Answer the following statement true (T) or false (F)
In the figure above showing the costs and benefits of paper production, there is an
A) external cost associated with paper production. B) external benefit associated with paper production. C) external cost associated with paper consumption. D) external benefit associated with paper consumption.
The tax rate structure is the
A. measure of who pays the tax. B. study of how taxes change over time. C. percentage of a tax base that must be paid in taxes. D. measure or value upon which a tax is levied.
The domestic opportunity cost of producing a television in the United States is 20 bushels of wheat. In Korea, the domestic opportunity cost of producing a television is 10 bushels of wheat. In this case:
A. Korea has a comparative advantage in the production of wheat B. The United States has a comparative advantage in the production of televisions C. Mutual gains from trade can be obtained if the United States imports televisions from Korea and Korea imports wheat from the United States D. Mutual gains from trade can be obtained if the United States imports wheat from Korea and Korea imports televisions from the United States