A fixed exchange rate can be maintained by a government as long as it has sufficient
a. supplies of its own currency.
b. foreign reserves.
c. gold and other precious metals.
d. tax revenues.
b
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Other things constant, a ________ price ________ quantity demanded
A) higher; increases B) lower; increases C) higher; decreases D) lower; decreases E) both B and C above.
Society faces a trade-off in all of the following situations except
A) when deciding who will receive the goods and services produced. B) when deciding how goods and services will be produced. C) when some previously unemployed workers find jobs. D) when deciding what goods and services will be produced.
Which of the following does not increase a McDonald's franchisee's financial stake in the success of the operation?
a. Successful owners may get additional restaurants b. The franchise is valid for 20 years and renewable after that c. The franchisee can safely ignore the company's standards of quality, pricing, cleanliness, hours of operation, and so on d. The franchisee must make highly specific investments of money and time e. The franchisee must have "non-borrowed personal resources" of at least $200,000 in cash
People are forced to make choices because of:
a. unlimited wants and unlimited resources. b. limited wants and unlimited resources. c. unlimited wants and limited resources. d. limited wants and limited resources. e. irrational wants and limited resources.