A lesson that policymakers should learn from the Argentinean experience with currency boards is:
A. they never work.
B. poor fiscal policies can undermine any monetary policy regime.
C. a flexible exchange rate is always preferred to a pegged exchange rate.
D. the only fixed exchange rate that works is the gold standard.
Answer: B
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The quantity supplied and price tend to vary
a. inversely. b. independently. c. in an unrelated fashion. d. directly.
A firm's minimum efficient scale is defined as
a. the output level at which LRATC first reaches its minimum level b. any output level at which LRATC is minimized c. the highest output level at which LRATC takes on its minimum value d. the output level at which the firm charges its highest price e. the lowest output level at which the firm can charge a positive price
What percentage of the average U.S. firm's costs are accounted for by wages and salaries?
A. 40. B. 60. C. 75. D. 85.
In the United States, over the past 50 years the total labor force participation rate
A) has increased. B) has decreased. C) has remained more or less constant. D) has fluctuated substantially. E) first decreased slightly and then increased significantly.