China's exchange rate system from 1994 through 2005 is an example of
A) a flexible exchange rate system.
B) a fixed exchange rate system.
C) a managed float exchange rate system.
D) the Bretton Woods System.
E) a floating exchange rate system.
B
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When demand increases in a perfectly competitive market, the market price:
A. increases in the short run and falls in the long run. B. decreases in the short run and increases in the long run. C. increases in the short run and stays permanently higher in the long run. D. decreases in the short run and stays permanently lower in the long run.
John M. Keynes is best known for advocating:
(a) A policy of annually balancing the budget. (b) Deficit spending during some recessions. (c) Contractionary fiscal policy during a recession. (d) Expansionary fiscal policy during a boom.
Expansionary fiscal policy can involve:
(a) Increasing consumption and investment and taxes. (b) Increasing government spending and decreasing taxes. (c) Increasing government spending and increasing taxes. (d) None of the above.
The answer is: "rational ignorance." What is the question?
A) Why do special interest groups lobby politicians? B) What causes a candidate in a two-person political race to take polls? C) What explains why voters often know very little about the candidates and the issues? D) What motivates the free rider?