Interbank trading is conducted directly between ________ or through the use of ________ that provide anonymity until the trade is complete.
A. individual consumers; the government
B. traders; brokers
C. brokers; traders
D. individual consumers; brokers
Answer: B
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One of the assumptions underlying the production possibilities curve for any given economy is that:
a. the state of technology changes. b. there is an unlimited supply of resources. c. there is full employment of resources when the economy is on the curve. d. goods can be produced outside the curve.
Floating exchange rates are determined by the
a. forces of supply of and demand for currencies. b. governments with a trade surplus. c. governments with a trade deficit. d. IMF under the Bretton Woods Agreement.
When the United States was under the gold standard,
a. the amount of currency depended on the size of the monetary gold stock. b. the central bank would buy or sell gold from anybody at the established price. c. the value of the dollar floated against gold. d. the amount of currency depended on the size of the monetary gold stock AND the central bank would buy or sell gold from anybody at the established price.
The economy is considered to be at full employment when
a. the actual rate of unemployment is less than the natural rate. b. the leading economic indicators are unchanged for two consecutive quarters. c. structural unemployment is zero. d. frictional plus structural unemployment is less than the natural rate. e. the rate of cyclical unemployment is zero.