Which of the following is NOT one of the rules for a gold standard?
A. Each country should fix the value of its currency in terms of gold.
B. There should be an unrestricted flow of gold between countries.
C. The central bank in each country should hold gold reserves in a direct relationship to the currency it issues.
D. Capital controls should be used to conserve each country's gold holdings.
Answer: D
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In order for effective price discrimination to occur, a seller must
a. be a pure monopolist. b. have large economies of scale and control over a key natural resource. c. face a horizontal demand curve for its product. d. have at least two distinguishable groups of consumers.
Of the collection of supply and demand diagrams in Figure 2.2, which one(s) could show the result of an increase in income?
A. Figure 1 B. Figure 2 C. Figure 3 D. Figures 1 and 2
Which of the following is a unique provision of NAFTA?
A) tariff elimination B) common currency C) environmental standards D) immigration oversights and policies
The monetary aggregate, M1, increases when
A) an individual cashes a check written by a business. B) an individual purchases clothes with a debit card. C) an individual switches funds from a savings account to a checking account. D) an individual buys groceries with a credit card.