Industrial unions offer membership to all workers in a specific industry

Critics of debt relief make all of the following arguments EXCEPT

A) it would be wasted money since the conditions that caused the debt would be likely to persist. B) debt relief can quickly fuel a new round of borrowing that simply restores debt to prior levels. C) debt relief will encourage other nations to borrow excessively with the hope that their debts may be forgiven in the future. D) the cost of debt relief to the most severely indebted countries is too large for the high income countries to afford.

A U.S. importer purchases 5,000 British pounds for $10,000. The rate of exchange is

A. $1 = 1. B. $1 = 2. C. $1 = .5. D. $2 = 1.