A fixed exchange rate system where central banks buy and sell gold to keep exchange rates at a given level is called the:
A) fixed standard.
B) flexible standard.
C) fiat standard.
D) gold standard.
D
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The Keynesian short-run aggregate supply curve is horizontal because
A) it represents Say's law. B) it reflects wage and price inflexibility. C) it represents the full employment level of real GDP. D) it reflects the absence of money illusion.
Admission to the Euro required in 1997 that a country's government debt not exceed ________ percent of GDP
A) seven B) fifteen C) twenty-five D) sixty
The 3P Program is most closely associated with
a. McDonald’s Corporation b. 3M Company c. BMW Group d. the National Environmental Policy Act of 1969 (NEPA)
Since the 1970s, the velocity of money has
A. behaved in a predictable fashion. B. behaved in an erratic fashion. C. decreased in value. D. increased in a stable and predictable fashion.