The U.S. dollar exchange rate is determined by the:
a. World Bank.
b. Federal Reserve.
c. Forces of supply and demand.
d. International Monetary Fund.
e. U.S. government.
.C
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The most common form of business organization in the United States is the sole proprietorship
a. True b. False
Which of the following is true for a pure monopolist?
a. The firm has a perfectly elastic demand curve. b. The firm will always earn an economic profit. c. The demand curve is above the marginal revenue curve. d. None of these is true.
One drawback to industrial policy is that
a. technology spillovers are too expensive to control. b. measuring the size of spillovers from different markets is difficult. c. spillovers often occur in industries that produce undesirable products for society. d. positive side effects are often outweighed by negative side effects.
We measure the total volume of output by calculating:
A. physical volume. B. the size of the labor force. C. the total market value of output. D. the rate of inflation.