In a system of managed or fixed exchange rates, the controlling
a. is performed by the central banks of the trading nations.
b. consists of making adjustments in the gold content of the different currencies.
c. is usually done by actions of the IMF.
d. involves changing the official exchange ratio between different kinds of money.
a. is performed by the central banks of the trading nations.
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When the Fed increases the quantity of assets it owns, it is said to be engaging in
A) credit easing. B) forward guidance. C) quantitative easing. D) a maturity extension program.
A perfectly inelastic supply curve is: a. upward sloping to the right
b. downward sloping to the left. c. horizontal. d. vertical.
The price of a typical basket of goods and services in one period divided by the price of the same basket in a different year is a(n)
a. price index b. TV-violence index c. employment index d. output index e. unemployment index
Refer to the information provided in Figure 3.5 below to answer the question(s) that follow.
Figure 3.5Refer to Figure 3.5. If consumer income decreases, the demand for chili peppers shifts from D0 to D1. This implies that chili peppers are a(n)
A. inferior good. B. substitute good. C. complementary good. D. normal good.