The nominal interest rate is 12 percent and the inflation rate is 4 percent. The opportunity cost of holding a dollar for a year is

Which of the following is not a developing country classified as a high-income economy because of possessing huge oil reserves?

a. United Arab Emirates b. Chad c. Qatar d. Kuwait e. Bahrain

If using the same resources, the U.S. workers can produce more of any good than Mexican workers, then the United States should produce every good

a. True b. False Indicate whether the statement is true or false