The current international monetary system is best described as a
A) fixed exchange rate system.
B) flexible exchange rate system.
C) managed flexible exchange rate system.
D) dollar standard.
E) gold standard.
C
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Which of the following is NOT an asset of the Federal Reserve?
A) currency B) government securities C) mortgage-backed securities D) None of the above are correct because they are all assets of the Federal Reserve.
Suppose fairness is defined as those with the highest incomes can afford to pay a greater proportion of their income in taxes. Then which of the following taxation systems would be consistent with this notion of fairness?
a. A true flax tax. b. A flat sales tax on consumption purchases. c. A progressive tax on income. d. A fixed federal tax of $5,000 that everyone pays regardless of income status.
The equilibrium of supply and demand in a market maximizes the total benefits to buyers and sellers of participating in that market
a. True b. False Indicate whether the statement is true or false
Define a traditional economy and name nation(s) that use them.
What will be an ideal response?