The best exchange rate system:
A. is a fixed exchange rate system.
B. is a flexible exchange rate system.
C. has not yet been determined.
D. is a partially-fixed exchange rate system.
Answer: C
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John Maynard Keynes noted that
A. we could print all the money we want and still have scarcity. B. "to secure the greatest amount of pleasure with the least possible outlay should be the aim of all economic effort." C. the general notion that scarcity is due to not having enough money is an illusion. D. we could print all the money we want and still have scarcity AND the general notion that scarcity is due to not having enough money is an illusion.
Economic expansions might lead to inflation because an expansion leads to
A) a decrease in the unemployment rate, which decreases wages. B) an increase in the unemployment rate, which decreases wages. C) an increase in the unemployment rate, which increases wages. D) a decrease in the unemployment rate, which increases wages.
Environmental problems result when social costs and benefits are different from private costs and benefits
a. True b. False
The ________________ program has often been popular with both economists and the general public because of the way it effectively increases the payment received for work. On average, benefits from this program come to less than $2,300 per family with children.
a. Temporary Assistance for Needy Families (TANF) b. Supplemental Nutrition Assistance Program (SNAP) c. Aid to Families with Dependent Children (AFDC) d. Earned Income Tax Credit (EITC)