Which of the following is not an example of money used as a unit of account?
a. A British pound is worth $3.00.
b. Auto repairs were $3,000 last year.
c. Business travel totaled 12,000 miles.
d. Gasoline sells for $1.20 per gallon and oil is $5.00 per quart.
d
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If the demand for letters written by Abraham Lincoln is higher than the demand for letters written by John Wilkes Booth, what would have to be true for the market equilibrium prices for these letters to be equal?
A) The supply of Lincoln letters would have to be less than the supply of Booth letters. B) The supply of Lincoln letters and the supply of Booth letters would have to be equal. C) If the demand for Lincoln letters is greater than the demand for Booth letters, the market equilibrium price for Lincoln letters will always be greater than the market equilibrium price for Booth letters. D) The supply of Booth letters would have to be less than the supply of Lincoln letters.
Voting power in the IMF is determined by
A. the population size of member states. B. the length of membership. C. the size of the member nation's trade surplus. D. the quota subscription size.