The International Monetary Fund (IMF) was created to achieve each of the following goals EXCEPT
A) to help finance economic development in poor countries.
B) to lend funds to countries having difficulties meeting their international payment obligations.
C) to encourage convertibility of member countries' currencies.
D) to supervise exchange-rate practices of member countries.
A
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____________ solves the mutual coincidence of wants problem
a. Barter b. Mercantilism c. Free trade d. Money
While the classicists believed that both velocity and output are stable, Keynesians believe:
a. velocity is stable and output is variable. b. velocity and output are both variable. c. output is stable and velocity is variable d. the same as the classical economists that both output and velocity are stable e. at low levels of income both velocity and output are stable, but at high levels of income velocity becomes variable.
A price index based upon the items purchased by firms is the
A. CPI. B. core PCE. C. Producer Price Index. D. PCE.
What is the type of economic system that relies on one central authority to make economic decisions?
A) free market B) price system C) command and control D) mixed economic system