24. A reserve currency is a currency that is: a. used exclusively to settle dome

Question

24. A reserve currency is a currency that is: a. used exclusively to settle domestic debts b. specifically designed for use by commercial banks to settle accounts. c. held only by bureaucrats d. used to settle international debts by private corporations. e. held by governments to facilitate foreign exchange market interventions. 25. The IMF comprises of 50 member countries including all developed countries, and a few countries of Asia and Latin America. a. True b. False 26, Per capita real GDP is of limited use as a measure of economic well being for all the following reasons, except: a. it says nothing about the quality of the environment. b. it does not reflect the degree of personal freedom in a society c. it is not adjusted for changes in leisure time d. it is not adjusted for changes in the rate of inflation. e. it says nothing about the distribution of income. 27. Labor productivity is measured as: a the share of wages in national income. b. the change in labor to capital ratio, c. real output per labor hour d the change in output from hiring an additional unit of labor. e the growth in the quantity of labor hp #0

Explanation / Answer

Ans 24

Reserve currency held by fed banks which are used for international transactions & foreign exchange market interventions

Ans 25

IMF comprises of 189 member coutries comprises of developed and other countries

Hence answer is false

Ans 26

Option D is correct response

Ans 27

Productivity can be calculated as total output/total input

hence from above text we have real output per labour hour

option C is correct response

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