A system in which governments intervene in foreign exchange markets to limit but not eliminate exchange rate fluctuations is referred to as
A. Marginal exchange rates.
B. Balance-of-payments exchange rates.
C. Managed exchange rates.
D. Speculative exchange rates.
Answer: C
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Economists before Keynes assumed that equilibrium GDP occurred
a. automatically. b. only with the help of government stabilization. c. if spending was generally greater than output. d. only in socialist economies with central planning.
Bill spent $15,000 to buy equipment for his paper-cup manufacturing plant. According to an economist, the amount spent by Bill is: a consumption expenditure.a consumption expenditure. a. a saving
b. an investment. c. a tax to the government. d. a consumption expenditure.
One property of Kenneth Arrow's "perfect" voting system is that the ranking between any two outcomes A and B should not depend on whether some third outcome C is also available. Arrow called this property
a. transitivity. b. pairwise perfection. c. independence of irrelevant alternatives. d. irrelevance of social choices.
A group of entrepreneurs is trying to decide which of five new product ideas to select. Which tool can be used to help make the decision?
A. Decision matrix B. Entrepreneurial discovery process C. Business processes D. Opportunity cost analysis