What percentage of the U.S. population was subjected to the 1913 income tax?
a. 1 percent
b. 5 percent
c. 10 percent
d. 15 percent
a
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What was the Plaza Agreement about?
What will be an ideal response?
An advantage of a flexible exchange rate system relative to a fixed system is that in a flexible rate system
a. currency speculation will be reduced. b. balance of payments surpluses and deficits can be dealt with using fiscal policy, not monetary policy. c. inflation will be minimized by the "discipline of the balance of payments." d. the price of imported goods will be kept relatively low. e. none of the above.
The international equilibrium price is the point at which:
a. the domestic supply curve of one country intersects the domestic demand curve of another. b. the domestic demand and supply curves of a country intersects each other. c. the export supply curve of one country intersects the import demand curve of another. d. the domestic demand of the trading partners become identical. e. the domestic supply of the trading partners become identical.
Historical note: Changes in demand for and supply of agricultural goods in less- developed countries has had what effect on these countries' terms of trade?
a. lowered the terms of trade because it raised their export prices b. lowered the terms of trade because it lowered their export prices c. raised the terms of trade because it lowered their import prices d. raised the terms of trade because it raised their import prices e. it had had no effect on their terms of trade