The use of technology such as telephones and computers means that money exchanges and other financial transactions can be _____.
(A) Based on U.S. dollars all over the world.
(B) Made instantaneously.
(C) Converted to prices in any currency.
(D) Sensitive to variations in any currency.
Ans: (B) Made instantaneously.
Economics
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The principle of comparative advantage states that a product should be exported by
a. the country with the lowest dollar cost b. the country with the lowest labor cost c. the country with the lowest opportunity cost d. the country that has more of that product e. all of the above
Economics
Excess reserves that are voluntarily held by institutions are called:
a. Bank equity. b. Customary reserves. c. Preferred assets. d. Funny money. e. Federal funds.
Economics