Central banks:
A. exist in almost every major nation.
B. are common only to industrialized nations.
C. in the United States oversee the U.S. economy, as well as some developing nations who do not have a central bank.
D. stopped being used after events like the Great Depression proved them useless.
A. exist in almost every major nation.
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Which of the following reduces the effects of asymmetric information?
A) repeat purchases B) warranties C) building a reputation D) All of the above.
When the U.S. experiences economic growth, the poverty rate will:
A. fall, because growth has benefited everyone. B. increase, because growth typically only benefits the richest 1 percent. C. fall, because growth typically helps the poor more than the wealthy. D. increase, because growth has benefited the wealthy more than the poor.
A portion of the balance of payments in which remaining outstanding claims are financed is known as the
a. current account. b. settlement account. c. capital account. d. balance of trade.
The price of gold is $300 per ounce in New York and 435 Canadian dollars per ounce in Toronto, Canada. If the law of one price holds for gold, the nominal exchange rate is ________ Canadian dollars per U.S. dollar.
A. 1 B. 1.45 C. 0.690 D. 0.333