Central banks are responsible for:

A. monetary policy but not fiscal policy.
B. both monetary policy and fiscal policy.
C. fiscal policy but not monetary policy.
D. neither monetary policy nor fiscal policy.


Answer: A

Economics

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Under a flexible exchange rate system an increase in the value of a currency relative to other currencies is a called a ________ and under a fixed exchange rate system an increase in the official value of a currency is called a ________.

A. depreciation; devaluation B. depreciation; appreciation C. appreciation; revaluation D. revaluation; appreciation

Economics

The above figure shows the Lorenz curve for wealth for the nation of Rusha. The wealthiest forty percent of the population own what percent of wealth?

A) 40 percent B) 50 percent C) 60 percent D) 100 percent

Economics

Naturally born members of the U.S. population resisted immigration in the antebellum period for all of the following reasons except

(a) Immigrants were prisoners and outcasts from other countries. (b) Immigrants could gain political power and possess political influence. (c) Immigrants displaced U.S. born laborers. (d) Immigrants brought their own religions and spiritual beliefs.

Economics

Tom's opportunity cost of mowing a lawn is 2 loads of laundry. Jen's opportunity cost of mowing a lawn is 1.5 loads of laundry. What is the range of prices for mowing a lawn at which Tom and Jen could both benefit from trade?

Economics