Compare the macroeconomic performances in the 1990s of the following countries under the following exchange-rate regimes: floating exchange rates, Mexico and Brazil; capital control, China and Malaysia; and currency boards, Estonia and Hong Kong;
dollarization, Argentina.
An open question. Students should use the IMF web site to discuss the issue, and to obtain data.
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________ is most likely to contribute to an improvement in our living standard
A) An increase in real GDP B) A decrease in nominal GDP C) An increase in the price level D) An increase in depreciation E) An increase in the GDP deflator combined with a decrease in nominal GDP
If an economy is efficient:
a. resources are still available to produce specific consumer goods that are more desirable. b. prices are the lowest they can possibly be. c. all goods are produced at their maximum price and quality. d. all opportunities to make people better off without making other people worse off have been exploited.
If ________, then a profit-maximizing, monopolistically competitive firm earns positive economic profits.
A. P = ATC B. P < ATC C. P > ATC D. All of the above are possible.
When the SRAS curve slopes upward, the actual affect of an increase in real autonomous spending on equilibrium real GDP is smaller than predicted by the multiplier because
A) the price level rises B) the price level falls. C) real GDP increases. D) real GDP decreases.