A composite currency whose value is the average of the values of the U.S. dollar, the Japanese yen, the euro, and the British pound is known as a:
a. special drawing right.
b. productive resource.
c. standard of value.
d. scarce diligence resource.
e. scarce delivery resource.
a
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Economists who believe that real GDP may grow slowly because of insufficient demand for investment spending cite three main reasons for the low demand for loanable funds. Which of the following is not one of those reasons?
A) a reduced demand for housing due to slowing population growth B) the continued decrease in the value of the dollar relative to the currencies of major U.S. trading partners C) a smaller capital requirement for modern information technology firms D) the falling price of capital relative to other goods
According to prospect theory,
A) people are concerned with wealth levels only. B) people are concerned with changes in wealth levels only. C) people never use a reference level when making their decisions. D) everybody is risk-neutral.