To keep from running out of international reserves under the Bretton Woods system, a country had to implement ________ monetary policy to ________ its currency
A) expansionary; strengthen
B) expansionary; weaken
C) contractionary; strengthen
D) contractionary; weaken
C
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Refer to Figure 4-15. How much of the tax is paid by buyers?
A) $2 B) $5 C) $7 D) $12
Targeting money growth will lead to stable output growth only if
a. money demand and velocity change proportionally with output. b. fiscal policy remains unchanged. c. money demand and velocity are stable. d. the IS curve is steep.
Governments and legislatures can erect barriers to entry. Which of the following would NOT be one of them?
A) licenses B) tariffs C) Patentsp D) laws that ensure property rights
Which is the most accurate statement?
A. The most important aspect of oligopoly is product differentiation. B. An oligopolistic industry cannot have more than five firms. C. There are virtually no oligopolies in the U.S. D. There are a whole range of oligopolistic models, from a cartel to cutthroat competition.