The use of a dollar bill to buy a concert ticket represents the function of money as a:
a. medium of exchange.
b. unit of account.
c. store of value.
d. all of these.
a
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The sale and purchase of goods and services across national borders is known as _____.
a. entrepreneurship b. importing c. trade d. exporting e. angel investing.
The Big Mac index is a measure of how well the purchasing power parity theory works.
Answer the following statement true (T) or false (F)
What is understood by infant industry arguments against free trade?
What will be an ideal response?
Suppose the Brazilian currency, the real, depreciates significantly. The AS/AD model predicts that this would cause a trade:
A. surplus for Brazil and shifted its AD curve left. B. surplus for Brazil and shifted its AD curve right. C. deficit for Brazil and shifted its AD curve left. D. deficit for Brazil and shifted its AD curve right.