Under the Exchange Rate Mechanism of the European Monetary System, when the German mark depreciated below its lower limit against the British pound, the German central bank was required to buy ________ and sell ________,
thereby ________ international reserves.
A) pounds; marks; losing
B) pounds; marks; gaining
C) marks; pounds; gaining
D) marks; pounds; losing
D
You might also like to view...
The required-reserve ratio is equal to a commercial bank's
A. required reserves divided by its checkable-deposit liabilities. B. excess reserves divided by its required reserves. C. checkable-deposit liabilities multiplied by its excess reserves. D. checkable-deposit liabilities divided by its required reserves.
The SRAS curve is upward sloping, there is a liquidity trap, and investment spending is sensitive to changes in the interest rate. According to the monetarist transmission mechanism, if the money supply increases the AD curve __________ and the price level __________
A) does not change; does not change B) shifts to the left; falls C) shifts to the right; rises D) does not change; rises E) none of the above
By specializing in the production of particular goods, a nation is:
A) less likely to make efficient use of available resources. B) more likely to engage in international trade. C) able to become self-sufficient. D) unable to develop a comparative advantage.
In the above table, the law of diminishing marginal product sets in with the hiring of ________ worker.
A. fourth B. sixth C. first D. third