Companies most likely use the foreign-exchange market to ________.
A) establish fair currency trading policies
C) establish a global market presence
D) diversify their hedge funds
B) facilitate regular business transactions
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Who determines the price and quantity traded in a market?
A. buyers and sellers B. buyers C. sellers D. prices and quantities traded are not generally determined in markets
Which of the following is an example of rent seeking behavior?
A) Recent increases in cigarette taxes faced little opposition from voters, many of whom were rationally ignorant with respect to the tax. B) U.S. sugar firms convinced Congress to impose a quota on imports of sugar. C) Amazon introduced the Kindle to compete with Sony's Digital Reader. Amazon was motivated by the desire to earn profits from the Kindle but also increased the choice of digital music players available to consumers. D) Apple earned large profits from the development and sale of the iPhone.
An increase in the money supply, other things equal, shifts the ________ curve to the ________
A) IS; right B) IS; left C) LM; left D) LM; right
The excess burden of an income tax is a function of the _____
a. average tax rate b. flat tax rate c. marginal tax rate d. Laffer curve