Which of the following generates demand for foreign currencies?
A. Exports from the United States to foreign countries.
B. The purchase by foreigners of bonds issued by the U.S. government.
C. Expenditures by Americans traveling abroad.
D. Transfers of money from foreigners to relatives in the United States.
Answer: C
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For a private good, the economy's marginal social benefit curve is the _______________ sum of the individual marginal benefit curves and for a public good, the economy's marginal social benefit curve is the ________________ sum of the individual marginal benefit curves.
a) horizontal; vertical b) horizontal and vertical; vertical and horizontal c) vertical; vertical d) vertical; horizontal
When Wal-Mart decides to build a new retail store in a town, it will decide to build a large store rather than a small store if the large store is expected to earn a greater economic profit
What other motive would Wal-Mart have for choosing to build a large store? A) A larger store will help Wal-Mart maintain its position as the leading retail company in the world more than a smaller store would. B) Because of economies of scale, the average total cost of production is less for a larger store than a smaller store. C) A larger store will give Wal-Mart greater political influence in the community. D) A larger store may deter entry into the town by a rival firm.