The so-called G-8 is one group that sometimes influences the exchange rates between major currencies. For example, in 2000 the G-8 governments agreed to sell U.S. dollars in order to:
A. Counter the depreciation of the euro
B. Counter the depreciation of the U.S. dollar
C. Support the appreciation of the Swiss franc
D. Support the appreciation of the Japanese yen
A. Counter the depreciation of the euro
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Consumer confidence in the economy falls, and as a result, aggregate demand decreases. As real GDP falls below potential GDP, if the Fed followed Friedman's k-percent rule, the Fed would
A) increase the quantity of money more than usual. B) continue allowing the quantity of money to grow at "k" percent. C) increase government expenditures. D) lower the federal funds rate. E) raise the federal funds rate.
Demand is elastic if
A) consumers respond strongly to changes in the product's price. B) a large percentage change in price brings about a small percentage change in quantity demanded. C) a small percentage change in price brings about a small percentage change in quantity demanded. D) the quantity demanded is not responsive to price changes. E) the demand curve is vertical.
Specialization means that a country devotes its energy and resources to only a small proportion of the world’s productive activities.
Answer the following statement true (T) or false (F)
The phase of the business cycle in which real domestic output declines is called
What will be an ideal response?