When the manager of a department store attaches price tags to his/her products, he/she is using money as a
A. unit of account.
B. unit of transfer.
C. store of value.
D. medium of exchange.
Answer: A
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If velocity is 6 and the quantity of money is $2 trillion, what is nominal GDP?
A) $12 trillion B) $6 trillion C) $3 trillion D) $333 billion
Based on Table 9.1, the balance on the current account is
A) +100. B) +200. C) 0. D) -100. E) -200.
Traditionally, laws of incorporation have been predominantly privileges of the states
Indicate whether the statement is true or false
Suppose the U.S. can produce 10 units of food and 5 units of clothing (or any such linear combination) and Canada can produce 6 units of food and 4 units of clothing (or any such linear combination)
If trade occurs between these two countries, which should produce more food and which more clothing?