A currency's role as an international unit of account is due to
A) invoicing costs.
B) transaction costs.
C) information costs.
D) intervention costs.
C
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Monetary policy can be most accurately described as
a. the use of government taxation and expenditures to achieve macroeconomic goals. b. the use of the government's regulatory powers to improve economic efficiency. c. the government provision of goods to improve economic efficiency. d. the deliberate control of the money supply to achieve macroeconomic goals.
Say a firm that sells its product at a price of $40 is using 20 units of capital. If the marginal product of the last unit of capital used was 50, and the constant rental rate of capital is $2,000, then this firm should
A. continue to use same units of capital. B. acquire more capital. C. decrease its output. D. decrease the amount of capital.
Refer to the table below. Based on the data in the above table you can conclude that the:
The table below shows the utility schedule for a consumer of candy bars.
A. Marginal utility of the fourth unit is 96
B. Marginal utility of the third unit is 18
C. Total utility of 2 units is 16
D. Total utility of 6 units is 35
One important difference between the international economy of today and the economy of 100 years ago is
A) that labor is so much more mobile. B) for the first time, technological innovations have reduced the barrier of distance. C) for the first time, capital is mobile. D) that price differences in different markets have narrowed. E) the presence of international bodies such as the IMF and World Bank.