Suppose Ann can produce 8 units of a material good (M) or 4 units of a spiritual good (S) in a day, while Ben can produce only 3 Ms or 3 Ss in a day. Which statement below is true?
A) Ann is the most efficient producer of spiritual goods.
B) Ann is the most efficient producer of material goods.
C) Ben is the least efficient producer of spiritual goods.
D) All of the above are true.
B
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Which of the following is not discussed as a job of a vehicle currency?
A) cross-border bank transactions B) international money market funds C) international bonds and notes D) All of the above are vehicle currency uses.
Creative destruction includes all of the following except
(a) The rise of the automobile industry at the expense of the carriage industry (b) The rise of the computer industry at the expense of the typewriter industry (c) The destruction of all capital during economic busts (d) There is no except; all of the above are examples of creative destruction
A fixed exchange rate policy:
A. imports monetary policy. B. strengthens domestic interest rate policy. C. will likely make domestic inflation more volatile. D. decreases central bank policy accountability and transparency.
When the Federal Open Market Committee meets it
a. looks only at the state of economy to determine how to conduct monetary operations in order to follow the monetary policy rule set by law. b. looks at the state of the economy and economic forecasts to determine how to conduct monetary operations in order to follow the monetary policy rule set by law. c. looks only at the state of the economy to determine the target it will set for the federal funds rate. d. looks at the state of the economy and economic forecasts to determine the target it will set for the federal funds rate.