No explanation needed! Please state if answer is A, B, C or D

Question11

Which of the following would not be a motive for an individual to hold money?

a.

To make transactions

b.

To reap the interest gained from holding money

c.

To cover unforeseen expenses

d.

To make transaction in the bond market

Question12

The M3 measure of money supply does not include the components of the M1 measure of money supply.

Select one:

True

False

Question13

A main advantage of specialization results from:

a.

High wages paid to foreign workers

b.

The specializing country behaving as a monopoly

c.

Smaller production runs resulting in lower unit costs.

d.

Economics of large scale production

Question14

Country: Output per Labor Hour

AB

Product X618

Product Y84

If the countries were to trade along the lines of absolute advantage:

a.

Neither country would want to trade

b.

A would export X to B

c.

B would import Y from A

d.

None of the above

Question15

According to the ______ argument for protection, tariffs can shield new industries from import competition until they have grown strong and efficient enough to withstand the competition by foreign producers.

a.

scientific tariff argument

b.

foreign dumping argument

c.

beggar they neighbor argument

d.

infant industry argument

Question16

If money could not be stored over time, then it cannot solve the problem of double coincidence of wants.

Select one:

True

False

Question17

Money demand will decrease if the price level _____or________. if real GDP increases

a.

Decreases, decreases

b.

Increases, decreases

c.

Decreases, increases

d.

Increases, increases

Question18

A depreciation of your currency indicates that your currency has gotten stronger

Select one:

True

False

Question19

Country: Output per Labor Hour

AB

Product X618

Product Y84

Country A has an absolute advantage in?

a.

Both of the goods

b.

Product Y

c.

Neither of the goods

d.

Product X

Question20

If Mexico has a comparative advantage in the production of oil compared to France, then

a.

Mexico can produce oil at a lower opportunity cost than France.

b.

France cannot produce oil.

c.

France has an absolute advantage in the production of oil.

d.

Mexico also has an absolute advantage in the production of oil.