Many societies used gold as money, because
a. it is relatively rare.
b. it is durable.
c. it has a relatively low melting point.
d. All of the above are correct.
d
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Which of the following is an example of an institution whose primary concern is global stability?
A) NAFTA (North American Free Trade Agreement) B) OPEC (Oil Producing and Exporting Countries) C) IMF (International Monetary Fund) D) Mekong River Commission E) Asian Development Bank
Which of the following statements is correct?
a. It is impossible for a country to fix its exchange rate and have an independent monetary policy at the same time. b. Flexible exchange rates are always superior to fixed exchange rates. c. Whether flexible exchange rates or fixed exchange rates are better for a nation depends on the characteristics of the economy. d. The level at which the exchange rate is fixed does not have any implications on the amount of interaction needed by the central bank to sustain the regime of fixed exchange rate.
When marginal cost is greater than marginal benefit at the current activity level, the decision maker can increase net benefit by decreasing the activity because
A. net benefit is upward sloping at this point. B. total cost will fall by more than total benefit will fall. C. marginal cost is rising faster than marginal benefit is falling. D. total benefit will rise by more than total cost will rise.
The set of acquired skills and abilities that workers bring to the production of goods and services is:
A) money. B) wealth. C) human capital. D) natural ability.