A ___________ exchange rate is a policy to allow the foreign exchange market to set the exchange rate of a currency.
a. pegged
b. floating
c. set
d. dynamic
b. floating
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Refer to the figure above. A one unit increase in labor supply will lead to ________ in output in Country X than in Country Y
A) a smaller increase B) a smaller decrease C) a larger decrease D) a larger increase
Which of the following will be considered a lagging indicator of the business cycle?
a. Money supply b. New building permits c. Unemployment duration d. Unemployment claims e. New plant and equipment orders
A binding minimum wage creates a shortage of labor
a. True b. False Indicate whether the statement is true or false
U.s. gdp
a. includes production of foreigners working in the U.S. and production by U.S. residents working in foreign countries. b. includes production of foreigners working in the U.S. but excludes production by U.S. residents working in foreign countries. c. excludes production of foreigners working in the U.S. but includes production by U.S. residents working in foreign countries. d. excludes production of foreigners working in the U.S. and production by U.S. residents working in foreign countries.