When a currency is overvalued, international reserves ________ and the country has a balance-of-payments ________.
A. decrease; surplus
B. decrease; deficit
C. increase; deficit
D. increase; surplus
Answer: B
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Provide two justifications for not taxing unrealized capital gains
What will be an ideal response?
Which of the following is NOT a factor that determines the price elasticity of demand?
A) the amount that suppliers have made available B) the percentage of a consumer's total budget spent on the good C) the existence of substitutes D) the length of time allowed for adjustments to change in the price of the commodities
The giving up of a good or activity in order to obtain some other good or activity is called:
a. a tradeoff. b. a cost analysis. c. a random choice. d. an opportunity cost. e. a sunk cost.
The price of bread is $1.50 per pound and the price of butter is $3 per pound. Steve has an income of $30, with which he buys 4 pounds of bread. How many pounds of butter does he buy, assuming he buys nothing else and he maximizes his utility?
A. 8 B. 12 C. 4 D. There is not enough information to answer the question.