Because central banks intervene in currency markets, the term ____ has been used to describe the system.
A. planned float
B. controlled float
C. flexible
D. dirty float
Answer: D
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The Federal Reserve is a privately operated commercial bank
a. True b. False Indicate whether the statement is true or false
The Keynesian portion of the short-run aggregate supply (SRAS) curve implies
A. the price level does not change. B. flexible prices and wages. C. a downward slope. D. an upward slope.
The classical dichotomy refers to the idea that the supply of money
a. is irrelevant for understanding the determinants of nominal and real variables. b. determines nominal variables, but not real variables. c. determines real variables, but not nominal variables. d. is a determinant of both real and nominal variables.
The set of acquired skills and abilities that workers bring to the production of goods and services is:
A) money. B) wealth. C) human capital. D) natural ability.