The main advantage of the Eurocurrency market is that investment funds cannot be subject to foreign government controls
a. True
b. False
Indicate whether the statement is true or false
False
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Milton Friedman first proposed the hypothesis that individuals consume a fraction of their expected, or ________, income
A) disposable B) net C) attainable D) permanent E) life-cycle
Factors that strongly influence a nation’s level of trade are:
a. its geographic size, geographic location, and history of trade. b. the size of its economy, the number of people, and its history of trade. c. the size of its economy, its geographic location, and its history of trade. d. the value of products, its geographic location, and its history of war.
The exchange rate is the
a. value of money b. quantity of dollars, yen, etc., that are traded c. amount of a foreign currency that is used to buy goods made in your country d. number of units of your currency that it takes to buy one unit of a foreign currency e. number of units of a foreign currency that can be bought with one unit of your own currency
Which of the following is most vital if the firms in an industry are going to earn economic profit in the long run?
a. an inelastic demand for the product produced by the firms b. an elastic demand for the product produced by the firms c. managerial efficiency d. high barriers to entry into the industry