Using the table above, if the current market value of the dollar is 125 francs
A) investor A holds dollars, but B and C hold francs.
B) investor A holds francs, but B and C hold dollars.
C) all three investors hold francs.
D) all three investors hold dollars.
C
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According to Douglass North, the Industrial Revolution occurred in England because
A) the British Parliament instituted a command economy structure and implemented a planned economy. B) the British courts became tied to the king and began to refuse to enforce property rights. C) the British Parliament took control of the government and could credibly commit to upholding property rights. D) the British monarchy took control of the government and pledged not to raise taxes arbitrarily.
An inflationary gap will exist when the full employment level of GDP is
a. equal to equilibrium GDP. b. greater than equilibrium GDP. c. less than equilibrium GDP. d. greater than disposable income.