Which of the following defines a flexible exchange rate?
A) An exchange rate determined by the market
B) An exchange rate that fluctuates within a set band
C) An exchange rate that is not allowed to vary
D) An exchange rate that is backed by gold
A
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There is a paradox that water has a high marginal utility, yet we value it little, while diamonds have a low marginal utility, while we value them highly
Indicate whether the statement is true or false
(Consider This) Ticket scalping is likely to:
A. produce a less interested audience. B. reduce the well-being of ticket sellers. C. reduce the well-being of ticket buyers. D. produce a more interested audience.
The Phillips curve describes the relationship between
A) output growth and unemployment. B) inflation and output growth. C) output growth and money supply. D) inflation and unemployment .
Fiscal policy may end up being destabilizing to an economy because
A. time lags are always too short for policy actions to take effect. B. the President may have different goals than Congress. C. various time lags associated with fiscal policy cause the policy changes to take effect too late to solve the problem it was supposed to solve. D. the economy is almost always at full employment.