With full exchange rate convertibility, individuals can:
A. not exchange their currency for the currency of any other country.
B. exchange their currency for the currency of any other country, but only to purchase assets from other countries.
C. exchange their currency for the currency of any other country for any purpose they choose.
D. exchange their currency for the currency of any other country, but only to purchase goods produced in other countries.
Answer: C
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A product with qualities that consumers lack the expertise to assess without assistance is called a(n)
A) search good. B) experience good. C) credence good. D) inferior good.
Who benefits from a subsidy to buyers?
A. Only sellers benefit from any kind of subsidy. B. Only consumers benefit, since it is their subsidy. C. The benefit is shared depending on the elasticity of the supply and demand curves. D. None of these statements is true.
In 2013, which of the following countries’ exports of goods and services as a percentage of GDP exceeded 50%?
a. United States b. Canada c. India d. Korea
The program of unemployment insurance in the United States was created during the
A. Great Depression. B. Reagan recession. C. Kennedy administration. D. Great Society.