Which of the following criteria would make gold a poor medium of exchange?
A) value relative to its weight so that amounts large enough to be useful in trade can be easily transported
B) Its value depends on its purity, and its purity is not easy to visibly identify.
C) divisibility because different goods are valued differently
D) durability so that value is not lost by spoilage
B
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The period for which the Consumer Price Index is defined to equal 100 is called the
A) base period. B) starting point. C) beginning period. D) zero period. E) reference base period.
Other things the same, if foreign residents desired to purchase more U.S. wheat
a. the exchange rate and net exports would rise. b. the exchange rate would rise and net exports would be unchanged. c. the exchange rate would fall and net exports would be unchanged. d. the exchange rate would fall and net exports would rise.