In order to “defend” its overvalued currency, Argentina in 2002 had to reduce its
A. interest rates.
B. tax levels.
C. holdings of foreign reserves.
D. balance of payments surpluses.
Answer: C
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The view that changes in the money supply is the primary cause of changes in real output and the price level is most closely associated with
A. the monetarist view. B. mainstream economics. C. real business cycle theory. D. rational expectations theory.
Compared to the averages for post World War II recessions, the recession of 2007-2009 was ________ in duration and the decline in real GDP was ________
A) shorter; smaller B) longer; smaller C) longer; greater D) shorter; greater
An important market for overnight borrowing and lending is the
A) commercial paper market. B) repo market. C) Treasury bill market. D) Treasury bond market.
In what way is monopolistic competition more like competition, and in what way is it more like monopoly?
What will be an ideal response?