________ fixed the exchange rates of Germany, France, Italy, the Netherlands, Belgium, Denmark, Ireland, and Luxembourg beginning in 1979.
A. A currency board
B. The International Monetary Fund
C. The European Central Bank
D. The Exchange Rate Mechanism
Answer: D
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A simultaneous rise in aggregate demand and fall in short-run aggregate supply will definitely
A) raise the price level, but there is not enough information to know how Real GDP will change. B) lower Real GDP, but there is not enough information to know how the price level will change. C) raise the price level and Real GDP. D) raise Real GDP, but there is not enough information to know how the price level will change. E) raise the price level and lower Real GDP.
Which of the following is a monetary policy action?
A. Deregulation. B. Changes in transfer payments. C. Open market operations. D. Changes in government spending.
Which of the following indicates whether the good in question is normal or inferior?
a. cross-price elasticity of demand b. income elasticity of demand c. equilibrium elasticity of demand d. unit-price elasticity of demand
To sell one more unit of a good, a monopolist must
A) lower the price on the last unit only. B) lower the price on all units. C) raise the price only on the last unit sold. D) raise the prices on all goods.