A country's foreign exchange reserves refers to
A) the currency of the nation itself.
B) the country's holdings of gold and internationally accepted currencies.
C) the total amount of a country's currency held by other nations.
D) the country's Special Drawing Rights (SDRs) at the IMF.
B
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"Material" wealth cannot be distinguished in any useful way from wealth (with no modifying adjective) because
A) all wealth consists finally of valued experiences. B) material objects are not essential to the creation of wealth. C) wealth includes anything a person can purchase with money, whether material or not. D) wealth usually fluctuates in value while matter cannot be created or destroyed.
The figure illustrates Elijah's preferences. He is currently at point A. The price of pizza decreases. The move from point A to point ________ is the substitution effect and the move from point ________ to point ________ is the income effect
A) B; B; C B) E; E; C C) D; D; B D) C; C; B