An effective way for a country to keep its currency fixed at a desirable level is to:
A. use internationalization of the debt.
B. demand changes in trade policy to its trade partners.
C. demand changes in monetary and fiscal policies of its trade partners.
D. use traditional monetary, fiscal, and trade policies.
Answer: D
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Suppose the nation of Alphonia was charged with dumping electric lawnmowers in the nation of Omegalon. The result of Omegalon imposing anti-dumping tariffs on electric lawnmowers manufactured in Alphonia would most likely be
A) lower selling prices on electric lawnmowers in Alphonia. B) higher selling prices on electric lawnmowers in Omegalon. C) increased exports of electric lawnmowers from Alphonia. D) an increased market share for Alphonian-manufactured electric lawnmowers in Omegalon.
If price falls, what happens to the quantity demanded for a product?
a. It increases. b. It decreases. c. It does not change. d. Uncertain--economic theory has no answer to this question.
If unskilled labor is relatively plentiful and cheap in many foreign countries, then as the United States expands its trade with these foreign countries, the domestic demand for
a. unskilled labor will rise and skilled labor will fall. b. skilled labor will rise and unskilled labor will fall. c. both skilled and unskilled labor will rise proportionately. d. both skilled and unskilled labor will be unaffected, assuming no barriers to free trade.
If a large number of people are classified as being out of the labor force when they are really looking for work, this will lead to an official unemployment rate that is lower than the true unemployment rate.
Answer the following statement true (T) or false (F)