Assume policy makers in a fixed exchange rate regime decide to peg the exchange rate at a higher level. This is called
A) a devaluation.
B) a revaluation.
C) a depreciation.
D) an appreciation.
A
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In the above figure, the shift in the supply curve from S to S2 reflects
A) an increase in the supply of pizza. B) an increase in the quantity of pizza supplied. C) a decrease in the quantity of pizza supplied. D) a decrease in the supply of pizza. E) a decrease in the supply of pizza and a simultaneous decrease in the quantity of pizza supplied.
When Social Security first began, the required contribution levels were _____
a. 2 percent of a worker's pay for all income earned b. 2 percent of a worker's pay for the first $3,000 of income earned c. 1 percent of a worker's pay for the first $3,000 of income earned d. 1 percent of a worker's pay for all income earned
Deficit rises in a recession and falls in a boom, even with no change in fiscal policy.
Answer the following statement true (T) or false (F)
The three major categories of government spending are
A) government purchases, defense spending, and interest payments. B) defense spending, Medicare and Medicaid, and net interest. C) government purchases, transfer payments, and net interest. D) government purchases, defense spending, and transfer payments