If a country moves from fixed to flexible exchange rates, its macroeconomic policy
A) is no longer restricted.
B) is restricted, as it can only use fiscal policy to achieve its economic goals.
C) is restricted, as it can only use monetary policy to achieve its economic goals.
D) must follow policy directives from the IMF.
A
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The marginal social cost of production is:
A. the sum of the total cost to the producer and the total external cost. B. the sum of the marginal cost to the producer and the total external cost. C. the sum of the total cost to the producer and the marginal external cost. D. the sum of the marginal cost to the producer and the marginal external cost.
The fewer alternative uses a resource has,
a. the greater the proportion of its earnings that is economic rent b. the smaller the proportion of its earnings that is economic rent c. the more elastic its supply d. the more elastic its demand e. the less elastic its supply
Which of the following is consistent with diminishing marginal product? a. The more you study each day, the more you learn from each added hour of study
b. The more you study each day, the less you know. c. Beyond some point, each added hour studying each day adds less to what you know than the previous hour's study. d. None of the above.
A negative growth rate will cause: a. an inward shift of an economy's production possibilities curve
b. an outward shift of an economy's production possibilities curve. c. a movement from a point inside an economy's production possibilities curve to a point on the curve. d. an economy's production possibilities curve to slope upward.