Business firms are prohibited by law from borrowing money from banks.
Answer the following statement true (T) or false (F)
False
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Over half of U.S. currency is
A) held abroad. B) used in the underground economy. C) held by banks as reserves. D) held by businesses, especially retailers, for making transactions.
Consumer surplus is what one consumer is willing to pay for a commodity over what another consumer is willing to pay for the same commodity
a. True b. False Indicate whether the statement is true or false
A tall latte in China costs 30 yuan. The same latte in the U.S. costs 4 dollars. If the exchange rate is 6.5 yuan per dollar then, the real exchange rate is
a. .867 so the good is more expensive in the U.S. b. .867 so the good is more expensive in China. c. 1.154 so the god is more expensive in the U.S. d. 1.154 so the good is more expensive in China.
A recessionary gap can be closed by which of the following?
A. An increase in government spending B. A decrease in taxes C. An increase in transfer payments D. All of the choices are correct