At present, the majority of a nation's official reserve transactions are done by using foreign exchange assets instead of gold.
Answer the following statement true (T) or false (F)
True
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Efficiency losses are
A) deadweight losses caused by consumers being prevented by tariffs from buying products at the world price, products that they value more highly than that price. B) the total loss in consumer surplus from a tariff. C) the increase in producer surplus that is created by a tariff. D) the deadweight loss that is created because domestic firms have to charge higher prices to produce units of output than foreign firms would have to charge.
Western expansion contributed to U.S. growth and development of the economy by
(a) privately mobilizing idle natural resources and land. (b) placing land in the hands of the public, with no private rights. (c) having government officials set land prices. (d) all of the above.
According to rational expectations theory, what information do businesses and workers use when they form their expectations regarding inflation?
a. Recent events and data. b. Keynesian and monetarist models. c. Forecasts by public-and private-sector economists. d. All the relevant information that is available.
Which of the following would be an example of direct foreign investment in DVCs?
A. A grant from the World Bank to build an irrigation project in Kenya B. The financing of a new chemical plant in Peru by a German company C. A low-interest loan from the U.S. government to Turkey to purchase military hardware D. A loan from the Japanese government to the Indonesian government to pay for electronic equipment