In order to “defend” its overvalued currency, Argentina in 2002 had to reduce its
A. interest rates.
B. tax levels.
C. holdings of foreign reserves.
D. balance of payments surpluses.
Answer: C
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Use the following table to answer the next question.YearUnemployment Rate (%)Inflation Rate (%)14.03.024.52.535.02.045.53.056.04.5Consider years 3, 4, and 5. Based on this data, the Phillips curve is ________.
A. downward sloping B. vertical C. of indeterminate slope D. upward sloping
Incentives matter and different groups of producers, consumers and politicians will support those policies that promise to advance those projects most advantageous to them. Which statement about opposition to or support for U.S
tariff policy during the antebellum period is correct? (a) "Producers in the South objected to tariffs placed on imported goods. They needed them at relatively low prices for their own production." (b) Plantation owners supported a high tariff as protection against cheap cotton imports. (c) Politicians wanted to protect jobs abroad as well as in the U.S. Therefore, they did not support U.S. tariff policies. (d) All of the above are correct.
If marginal revenue exceeds marginal costs
A) production should be increased. B) production should be increased and profits will grow. C) production should be increased and losses will decrease. D) all of these choices are possible.
In general, why are trade sanctions implemented?
A. To lower domestic unemployment rates B. To benefit emerging industries C. For political reasons D. To raise revenue from trade