Which of the following is a certificate of indebtedness?
a. stocks and bonds
b. stocks but not bonds
c. bonds but not stocks
d. neither stocks nor bonds
c
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Under the Bretton Woods exchange rate system, ________ could sell their dollars to the American government in exchange for gold
A) American citizens B) foreign central banks C) foreign citizens D) all of the above
If potential output equals 3,000 and short-run equilibrium output equals 3,500, there is a(n) ________ gap and the Federal Reserve must ________ real interest rates in order to close the gap.
A. expansionary; raise B. recessionary; reduce C. recessionary; raise D. recessionary; not change
A domestic spending shock is likely to be least disruptive under a
A. fixed exchange-rate system when there is high capital mobility. B. floating exchange-rate system when there is low capital mobility. C. fixed exchange-rate system without sterilization. D. floating exchange-rate system when there is high capital mobility.
Refer to the information provided in Figure 14.1 below to answer the question(s) that follow.
Figure 14.1Refer to Figure 14.1. Four firms that produce chewing gum form a cartel. The cartel faces the market demand curve given by D. At the profit-maximizing output, the profit on each pack of gum is
A. $0.04. B. $0.09. C. $0.15. D. $0.25.