The most economically efficient exchange rate system is one in which
A) residents of a nation can reallocate their resources at minimal costs.
B) the central bank in a nation requires the least intervention in domestic money markets.
C) the central bank in a nation requires the least intervention in foreign exchange markets.
D) real income fluctuations are minimized.
A
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The opportunity cost of going to a particular college is not the same for everyone
Indicate whether the statement is true or false
The Federal Constitution, like the laws under English rule, permitted the U.S. government to
(a) impose taxes to pay for government services and national defense. (b) regulate commerce with other countries. (c) create money and regulate its value. (d) do all of the above.
Refer to the graphs and information below. It can be deduced that:
Suppose the world economy is composed of just two countries: Italy and Greece. Each can produce steel or chemicals, but at different levels of economic efficiency. The production possibilities curves for the two countries are shown in the graphs below.
A. Greece has a comparative advantage in chemicals
B. Greece has the absolute advantage in both products
C. Italy has a comparative advantage in chemicals
D. It is more costly in terms of resources to produce steel in Italy
In-cash transfers differ from in-kind transfers in that
A. the former offers greater control over spending by the poor on inappropriate things. B. the former is more certain to target children effectively. C. the former is more cost-effective and less bureaucratic. D. none of these, the two are identical.