Trilemma refers to policy conflicts among:
A) fixed exchange rate, monetary autonomy, and free capital mobility goals.
B) floating exchange rate, monetary autonomy, and free capital mobility goals.
C) fixed exchange rate, monetary autonomy, and floating exchange rate goals.
D) floating exchange rate, fiscal autonomy, and monetary autonomy goals.
Ans: A) fixed exchange rate, monetary autonomy, and free capital mobility goals.
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Refer to Figure 11-2. The average product of labor declines after L2 because
A) the marginal product of labor is below the average product of labor. B) the marginal product of labor is negative. C) the marginal product of labor is falling. D) the marginal product of labor is positive.
If a monopolist sets her output such that marginal revenue, marginal cost and average total cost are equal, economic profit must be:
A) negative. B) positive. C) zero. D) indeterminate from the given information.
The two defining characteristics of pure private goods are
a. nonrivalry and excludability b. positive externalities and efficiency c. nonexcludability and nonrivalry d. efficiency and profitability e. rivalry and excludability
Which of the following items serve as a unit of account?
I. $100 cash II. checkable deposits III. an original Picasso painting IV. a $1,000 corporate bond that you own A) I only B) I and II C) I, II, and III D) I, II, and IV E) I, II, III, and IV