Under the managed floating system of exchange rates:
A. all exchange rates vary with changes in the free-market prices of gold.
B. industrialized nations meet once each year to negotiate readjustments in their exchange
rates.
C. exchange rates are essentially flexible, but governments intervene to offset disorderly
fluctuations in rates.
D. exchange rates are adjusted at the discretion of the IMF.
C. exchange rates are essentially flexible, but governments intervene to offset disorderly
fluctuations in rates.
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The Big Mac index:
A. is measured by The Economist. B. is a simple measure that indicates differing costs of living in different countries. C. converts the price of a Big Mac worldwide to dollars, and compares it to how much they cost in the U.S. D. All of these statements are true.
Long-run Phillips curve is a vertical line drawn at the economy's natural rate of ________
a. output level b. unemployment c. inflation d. profit
If the Fed wants to raise interest rates, then it can use its open market operations to:
A. increase the money supply. B. decrease the money supply. C. increase money demand. D. decrease money demand.
Mr. Smith put his laptop up for sale. He is aware of the fact that the laptop malfunctions frequently
However, none of the potential customers who came to buy the laptop were able to discover the problem and one of them actually bought it at a remunerative price. This occurred due to ________. A) the presence of asymmetric information B) the presence of positive externalities C) the presence of negative externalities D) the selective retention of information by sellers