Under the gold standard, because all currencies had values fixed in units of gold
A) exchange rates were essentially fixed.
B) exchange rates were essentially floating.
C) exchange rates were set to a crawling peg.
D) none of the above
A
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If in an efficient market all prices are correct and reflect market fundamentals, which of the following is a FALSE statement?
A) A stock that has done poorly in the past is more likely to do well in the future. B) One investment is as good as any other because the securities' prices are correct. C) A security's price reflects all available information about the intrinsic value of the security. D) Security prices can be used by managers to assess their cost of capital accurately.
Which of the following is not a macroeconomic statement?
A. Jenny's wage rate rose, and in response, she decided to work more hours. B. The Federal Reserve lowered interest rates at its last meeting. C. Congress increased the minimum wage rate in January. D. The unemployment rate for the United States rose to 5 percent in the last quarter.
Rika's opportunity cost of producing 100 t-shirts is 50 jackets. Jeff's opportunity cost of producing 75 t-shirts is 25 jackets. Who should specialize in jackets?
A) Rika B) Jeff C) neither D) both E) More information is needed about their production possibilities frontiers to determine who should specialize in jackets.
Charting observations on a semi-logarithmic graph will help the analyst to ascertain whether
A) absolute changes from period to period are constant. B) whether percentage changes from period to period are constant. C) whether percentage changes from period to period are declining. D) Both B and C