Fixed exchange rate regimes include each of the following, except:
A. the Bretton Woods exchange rate system.
B. exchange rate pegs.
C. currency boards.
D. dollarization.
Answer: D
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Cynthia is an Oklahoma wheat farmer. The demand for her wheat is
A) perfectly inelastic. B) inelastic but not perfectly inelastic. C) elastic but not perfectly elastic. D) perfectly elastic. E) unit elastic.
If actual real GDP is greater than the equilibrium level of real GDP (i.e., the aggregate expenditures function is below the 45-degree line), what happens to restore equilibrium to the economy?
If a country increases its saving rate, which of the following permanently grow at a higher rate?
a. productivity and real GDP per person b. productivity but not real GDP per person c. real GDP per person but not productivity d. neither real GDP per person nor productivity
Which of the following additions to an insurance contract will not act to reduce moral hazard?
A. Co-payments for covered costs. B. Deductibles for covered costs, that is, the first X dollars of claims are paid by the insured. C. Cost caps, that is, limitations on total payments that can be made from a claim. D. Age limitations on who can be insured.