The Bretton Woods System of exchange rates was established:
a. to solidify support for the then-existing gold standard.
b. to peg the worldwide price of silver to the price of gold.
c. in Europe before World War II to establish a flexible exchange rate regime.
d. in the United States in 1944 to develop a gold exchange standard.
e. by a mechanism that made gold the reserve currency of the system.
d
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Since the 1930s, the Fed's most important tool for controlling the money supply has been
A) setting the discount rate. B) setting reserve requirements. C) moral suasion. D) open-market operations.
Even with a tax, the price that consumers pay will be higher than what producers receive.
A. True B. False C. Uncertain
Refer to the payoff matrix below. In reference to the Nash equilibrium/equilibria in this game, which of the following is true?
Camp with Us and Happy Campers compete in the market for campers. Each firm must decide each season if they are going to offer special financing or not. The above payoff matrix shows each firm's net economic profit at each pair of strategies.
A) Camp with Us Offer Financing and Happy Campers Do Not Offer Financing is a Nash equilibrium.
B) Camp with Us Do Not Offer Financing and Happy Campers Do Not Offer Financing is a Nash equilibrium.
C) There are no Nash equilibria in this game.
D) Camp with Us Offer Financing and Happy Campers Offer Financing is a Nash equilibrium.
If the real rate of return is 2 percent, and the inflation rate is 2 percent, then the nominal interest rate must be:
A. ?4 percent. B. ?2 percent. C. 4 percent. D. 2 percent.