Under the gold standard, a nation with a private balance of payments surplus would experience:
A. higher interest rates, lower inflation, and lower output.
B. lower interest rates, higher inflation, and higher output.
C. lower interest rates, lower inflation, and lower output.
D. higher interest rates, higher inflation, and higher output.
Answer: B
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In the above figure, the firm's total economic profit is equal to
A) $60. B) $200. C) $150. D) MR - MC.
Suppose that adding a new disc drive to your computer increases its value by $100. The disc drive costs $75 and takes you 2 hours to install. If you value your time at $6 per hour then the net benefit of installing the disc drive is:
A. $13. B. $19. C. $25. D. $88.
If saving is less than domestic investment, then
a. there is a trade deficit and Y > C + I + G. b. there is a trade deficit and Y < C + I + G. c. there is a trade surplus and Y > C + I + G. d. there is a trade surplus and Y < C + I + G.
Gigantic Corporation follows a strategy of waiting for rivals to innovate, then quickly imitating any successful innovations. This behavior is known as:
A. collusion. B. an entrepreneurial strategy. C. a fast-second strategy. D. pricing the demand curve.