If foreign exchange rates are determined by the interaction of supply and demand forces for the various currencies, then the exchange rate is
a. fixed
b. government-determined
c. set by the value of gold
d. said to float
e. not in equilibrium
D
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Government spending ________ is included in gross domestic product
A) at the federal level of government only B) at state and local levels of government only C) at federal, state, and local levels of government D) on defense goods only
The ways to address agency costs include all EXCEPT
a. running background checks on prospective employees b. requiring employees to punch time clocks c. spot checks of the quality of employee's work d. providing better coffee machines in the lunch room
Production costs are likely to rise after an average-cost pricing policy is mandated because the monopolist will:
A. increase output. B. decrease output. C. engage in new and inventive production methods. D. have no incentive to control costs.
Which of the following is associated with an increase in potential output?
A. An increase in the target inflation rate B. A decrease in the target rate of capacity utilization C. An increase in the target rate of unemployment D. A decrease in the target rate of unemployment