In a given year, the value of U.S. foreign exchange transactions ________
A) are roughly equal to the value of all U.S. export and import transactions
B) cannot be calculated using nominal exchange rates
C) are relatively small in comparison with the value of U.S. export and import transactions
D) are approximately 25 times greater than the value of U.S. export and import transactions
D
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Common property is
A) a resource that everyone is free to use as much as they want. B) property that belongs to both spouses in a marriage. C) property owned by a group such as a club or a church. D) generic property as opposed to specific property.
Shortage of a good occurs if: a. the price of the good is higher than the equilibrium price
b. the government imposes a restriction on the consumption of the good. c. buyers want to buy more than sellers want to sell. d. buyers want to buy less than sellers want to sell.