The SDR (Special Drawing Rights) is issued by the
A) IMF.
B) Federal Reserve Bank.
C) European Monetary System.
D) World Bank.
A
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Total cost is equal to the sum of
A) total revenue and total cost. B) total variable cost and total product. C) total variable cost and total fixed cost. D) total fixed cost and total product. E) the marginal cost plus the total fixed cost plus the total variable cost.
Refer to Table 2-11. What is China's opportunity cost of producing one digital camera?
A) 0.04 pounds of wheat B) 4 pounds of wheat C) 25 pounds of wheat D) 40 pounds of wheat
Firms in perfectly competitive markets take the ______ as given when deciding how much to sell.
A. market quantity B. lowest prices C. market prices D. input prices
Assume that if there was no crowding-out, an increase in government spending would increase GDP by $100 billion. On the other hand, if there had been full crowding-out, then GDP would have:
A. Increased by more than $100 billion B. Increased by less than $100 billion C. Increased by $100 billion D. Not increased