Under the gold standard, because all currencies had values fixed in units of gold
A. exchange rates were set to a crawling peg.
B. exchange rates were effectively fixed.
C. there were no exchange rates.
D. none of these
Answer: B
You might also like to view...
The prediction of permanent, growing shortages of fresh drinking water by the year 2050 assumes
A) water prices will increase. B) water prices will decrease. C) water prices will not adjust appropriately to coordinate the market. D) nobody will be able to collect water from rain and snowstorms.
Between 1866 and 1914, statistical evidence suggests that many big businesses depended heavily on U.S. protectionist policies
Indicate whether the statement is true or false
Suppose an investment will yield $1,000 after one year and $2,000 after two years. What is the present value of this investment if the discount rate is 8 percent?
a. $2,479.34 b. $2,640.60 c. $2,727.27 d. $3,000 e. $3,520
The U.S. commercial airline industry is a good example of an oligopolistic market
a. True b. False Indicate whether the statement is true or false