Under the gold standard, because all currencies had values fixed in units of gold
A) exchange rates were effectively fixed.
B) there were no exchange rates.
C) exchange rates were set to a crawling peg.
D) none of the above
Answer: A
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A supply curve typically slopes upward because:
a. opportunity cost of production increases as the quantity supplied increases. b. price and quantity supplied are inversely related. c. quantity supplied is positively related to consumer income. d. the substitution effect of a price change on quantity supplied is generally positive. e. the income effect of a price change on quantity supplied is generally negative.
In the above figure, suppose the economy had been at point A and now is at B. What could have led to the movement to B?
A) a tax hike B) an increase in government expenditures on goods and services C) Winter storms cause factories in the north to be shut down for several weeks. D) an increase in the money wage rates
In 2008 ___________ had the highest annual expenditures on public and private schools per student.
A. Spain B. France C. United States D. Japan
Exchange rates and banking systems are often the variables through which the contagion effects of a crisis are spread from one country to another
Indicate whether the statement is true or false