Special Drawing Rights Are

question 139

Multiple Choice

Special Drawing Rights are

• A)a reserve asset created by the International Monetary Fund that can be used to settle international payments.
• B)loans granted by the International Monetary Fund to countries that experience balance of payments problems.
• C)the term given for official reserves taken as a whole.
• D)financial assets held by the U.S. Treasury Department.

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Definitions:

Perfectly Competitive Firms

Firms that operate in a market where no single buyer or seller has the power to influence the price of the product, and where the product offered is homogeneous, with many sellers and buyers.

AVC

Average Variable Cost; the total variable costs (costs that change with the level of output) divided by the quantity of output produced.

Minimize Losses

A strategy or approach aimed at reducing the amount of money or resources that are being lost or wasted.

Perfectly Competitive Firms

Perfectly Competitive Firms operate in a market where numerous buyers and sellers exchange homogeneous products, with no single entity able to influence the market price.