A currency board is an entity that
a. issues a currency with a floating value relative to a widely accepted currency.
b. promises to continue to redeem the issued currency at the prevailing market rate.
c. controls the domestic supply of money by buying and selling bonds and other liquid assets.
d. provides 100% backing for all currency issued.
D
You might also like to view...
The substitution effect of a real wage increase is observed when
A) the higher wage causes workers to take more leisure and work more hours. B) the higher wage causes workers to take more leisure and work fewer hours. C) leisure's higher opportunity cost causes workers to take less leisure and work more hours. D) leisure's higher opportunity cost causes workers to take more leisure and work fewer hours.
Assume baseball player salaries are fully determined before the season starts. From the point of view of the baseball team owner, player salaries during the course of the season are then
A) variable costs. B) marginal costs. C) fixed costs. D) average costs.
Refer to the table below. Which drug should the senior manager not pursue?
The senior manager of Rx Pharmaceuticals needs to decide which of three drugs the company should consider developing. The estimated profit for each of the drugs differs depending on the market conditions when the respective drugs are introduced to the market. The above table summarizes the estimated profit for each drug under each of the three market conditions; Good, Fair, and Poor.
A) Drug Y
B) Drug X
C) Drug Z
D) all of the drugs
What is the Nash equilibrium of this game?
a. Cheat, Cheat b. Not cheat, Not cheat c. Sam cheats, Sarah doesn't d. Sarah cheats, Sam doesn't