Which of the following best defines foreign exchange?
a. a trade between two countries
b. the market where exporting and importing activities take place
c. the price of a currency relative to another currency
d. the currency of another country used for trading
e. the dollars that the United States uses to buy goods from other countries
D
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If the people of Redland are expecting the central bank to conduct an expansionary monetary policy for several years, how will the long-run real interest rate in Redland be affected?
What will be an ideal response?
Ashley eats two bananas during a particular day. The marginal benefit she enjoys from eating the second banana
a. can be thought of as the total benefit Ashley enjoys by eating two bananas minus the total benefit she would have enjoyed by eating just the first banana. b. determines Ashley's marginal cost of the first and second bananas. c. does not depend on how many bananas Ashley has already eaten. d. cannot be determined unless we know how much she paid for the bananas.
Use the above figure. The ATC at output 5 is
A. $25.00. B. $2.00. C. $5.00. D. $3.00.
The progressive income tax is a tax based on the
A. ability-to-pay principle. B. efficiency tax principle. C. benefits-received principle. D. tax equity principle.