A competitive equilibrium is described by
A) a price only.
B) a quantity only.
C) the excess supply minus the excess demand.
D) a constant price and a quantity.
D
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Suppose the Fed had tried to keep the exchange rate at its 2001 level. In that case the Fed would have ________ dollars and its foreign reserves would have ________
A) bought; decreased B) sold; increased C) sold; decreased D) bought; increased E) None of the above is correct because the Fed cannot affect the exchange rate.
Which of these refers to the situation in which one party to an economic transaction takes advantage of knowing more than the other party to the transaction?
A. Moral hazard B. Adverse selection C. Biased selection
The single most important factor in the 1992 crisis of the EMS was
A) ratification of the Single European Act. B) the near failure of the Maastricht Treaty. C) the fall in unemployment rates throughout the EEC. D) German reunification efforts. E) the outbreak of war in the former Yugoslavia.
Which of the following is foreign portfolio investment sometimes called?
A. Hot investment B. Quick sale C. Hot money D. Wasteful investment