The Swiss National Bank established the practice of targeting monetary aggregates in ________
A) 1929
B) 1975
C) 2001
D) 2008
B
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As a result of the imposition of a tax on a product: a. some consumer surplus is transferred from buyers to producers
b. some producer surplus is transferred from sellers to consumers. c. some consumer and producer surplus is transferred from buyers and sellers to the government. d. there is no change in either consumer or producer surplus.
Barriers to entry might include all but which of the following?
a. Huge capital expenditures required to get started in production b. Patents c. Sole ownership of a strategic resource d. Exclusive government franchise e. Positive economic profit
If the Deutsche Mark and the British pound exchange rates are fixed, and the German Bundesbank conducts a tight monetary policy to counteract an expansion in German GDP, interest rates in Germany will ____, which will force Britain to ______.
A) fall; default B) rise; raise its rates to maintain interest parity and the fixed exchange rate C) fall; sell gold D) rise; lower its rates to maintain interest parity and the fixed exchange rate
Assume a purely competitive increasing-cost industry is initially in long-run equilibrium and that an increase in consumer demand occurs. After all economic adjustments have been completed, product price will be:
A. lower, but total output will be larger than originally. B. higher and total output will be larger than originally. C. lower and total output will be smaller than originally. D. higher, but total output will be smaller than originally.