Which of the following is not a function of money?
A. Medium of exchange
B. Income generation
C. Standard of value
D. Store of value
B. Income generation
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Which of the following represents an example of a major cartel in global markets? a. The Organization of Wheat and Corn Exporting Countries (OWCEC)
b. The Organization of Petroleum Exporting Countries (OPEC). c. The Brotherhood of Scrap Iron Exporting Countries (BSIEC). d. The Amalgamated Association of Alfalfa Producing Countries (AAAPC).
Leverage is essential to a bank's profitability but it also increases risk
a. True b. False Indicate whether the statement is true or false
Except for any statistical errors, any current account deficit
A. Must be completely offset by unilateral transfers. B. Must be completely offset by a capital account surplus. C. Can be only partially offset by capital account surpluses and unilateral transfers. D. Must be completely offset by a trade surplus.
In Figure 5.1, during the 1980-1990 time periods, real GDP was relatively constant but nominal GDP increased. This can be explained by
A. Lower average price levels. B. A decrease in production per capita. C. Inflation. D. Higher levels of production.