________ can intervene directly in the foreign exchange market by buying or selling dollars
A) Congress
B) The Fed
C) The International Monetary Fund
D) The U.S. Treasury department
B
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The government protects rights in a market economy by providing national defense, a court system, and a well-functioning political system
a. True b. False
The long-run equilibrium of a monopolistically competitive firm is characterized by
A) a tangency of the average total cost curve with the firm's demand curve. B) price equal to marginal cost. C) production at the minimum point of the firm's average total cost curve. D) production at the minimum point of the firm's average variable cost curve.
According to economists, which of the following acts was partially responsible for the Great Depression of the 1930s?
a. The Robinson-Patman Act b. The National Recovery Act c. The Smoot-Hawley Tariff Act d. The Sarbanes-Oxley Act e. The Sherman Antitrust Act
An example of a price floor is
a. the regulation of gasoline prices in the U.S. in the 1970s. b. rent control. c. the minimum wage. d. any restriction on price that leads to a shortage.