The central bank in the United States is:
A. the U.S. Treasury.
B. the Bank of the United States.
C. the Federal Reserve.
D. the Bank of America.
Answer: C
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The size of a firm relative to the size of the market can be referred to as
A) an economic profit guarantee B) a marginal profit factor C) core competency D) economies of scale
According to purchasing-power parity, if it took 1,100 Korean Won to buy a dollar this year, but it took 1,000 to buy it last year, then the dollar has
a. appreciated, indicating inflation was higher in the U.S. than in Korea. b. appreciated indicating inflation was lower in the U.S. than in Korea. c. depreciated indicating inflation was higher in the U.S. than in Korea. d. depreciated indicating inflation was lower in the U.S. than in Korea.
When a baker exchanges a pie for dollars, this is an example of dollars serving as:
A. barter. B. a store of value. C. a medium of exchange. D. a unit of account.
The problems of markets can be addressed by:
A. guaranteed price matching. B. increasing the number of sellers in the market. C. imposing price ceilings. D. money-back guarantees.