When two people from two different nations with two different currencies get together, often they cannot decide exactly how to trade money for goods. Fortunately for them, there is (are)
a. governments whose role it is to handle such transactions
b. arbitrage
c. a foreign exchange market
d. a barter system
e. an international monetary fund
C
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Comparative risk analysis is
a. a risk assessment strategy c. a risk characterization approach b. a risk management strategy d. none of the above
John Smith leaves his job in New York to go to California in hopes of finding a better one. If John Smith is unemployed while searching for a job in California, economists would consider him to be
A) frictionally unemployed. B) structurally unemployed. C) cyclically unemployed. D) naturally unemployed.
At the core of the American trade problem is that
A. Americans spend too much on consumption. B. the dollar is too low. C. the Japanese are excluding American products by means of high protective tariffs. D. American manufacturers are too quality conscious and should instead concentrate on reducing costs.
The collection of laws, regulatory measures, and actions concerning a particular topic that originate with some body of government is called
A) fiscal policy. B) public policy. C) private policy. D) antitrust policy.