In the late 1990s, Thailand, Malaysia, and Indonesia all experienced sharp declines in the value of their currencies; this resulted in economic instability and crisis. The collapse in the values of their currencies undermined their development by:
A. decreasing political instability.
B. decreasing population growth.
C. increasing corruption.
D. reducing investment.
Answer: D
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Increases in the price level
A) decrease the opportunity cost of holding money. B) increase the quantity of money needed for buying and selling. C) increase the opportunity cost of holding money. D) decrease the quantity of money needed for buying and selling.
The benchmark default-free interest rate of the financial system is generally considered to be:
A) the federal funds rate B) the interest rate on the 10-year Treasury note C) the discount rate D) the 30-year fixed rate mortgage
Tax policies involving increases in taxes paid by the private sector
(a) are generally tolerated when incomes are rising faster than taxes. (b) are always opposed by the private sector. (c) are death to politicians concerned about re-election. (d) are progressive when the lowest income bracket pays the highest percentage of total income.
In the prisoner's dilemma game:
A. both players have a dominant strategy. B. neither player has a dominant strategy. C. only one player will ever have a dominant strategy. D. All of these may be true in a prisoner's dilemma game.