The largest International Monetary Fund quota subscription, denominated in Special Drawing Rights, is held by
A. the United States.
B. Russia.
C. Japan.
D. China.
Answer: A
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Referring to Figure 19.2, an appreciation of the dollar is represented by a movement from point
A) b to c. B) c to d. C) a to c. D) a to d.
Most economists agree that the aggregate demand curve is:
A. vertical. B. horizontal. C. relatively steep. D. relatively flat.
At the profit-maximizing level of output, demand is
A) completely inelastic. B) inelastic, but not completely inelastic. C) unit elastic. D) elastic, but not infinitely elastic. E) infinitely elastic.
The theory of land rent holds that
a. capital invested on any plot of land must yield the same return as capital invested on any other plot of land. b. the difference between the costs of producing on any two pieces of land must equal the difference between their rents. c. marginal land earns no rent. d. All of the above are correct.