Which of the following exchange rate systems have a legislative commitment to exchange domestic currency for a specified foreign currency at a fixed exchange rate?
a. Gold standard
b. Gold exchange standard
c. Crawling band
d. Horizontal band
e. Currency board
e
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In a vote between options A, B, and C, option C wins. When option B is eliminated and a vote is taken between option A and option C, option A wins. The voting system used fails to satisfy which of Arrow's properties of a desirable voting system?
a. unanimity b. transitivity c. independence of irrelevant alternatives d. No dictators
Mexico is
a. a poor country, and over the past century its rate of economic growth has been higher than that of the United States. b. a poor country, and over the past century its rate of economic growth has been lower than that of the United States. c. a middle-income country, and over the past century its rate of economic growth has been higher than that of the United States. d. a middle-income country, and over the past century its rate of economic growth has been lower than that of the United States.
A single proprietorship is a form of business organization which:
a) has limited liability. b) has unlimited access to money capital. c) has a single owner but has directors who are responsible for the firm?s debts. d) has one owner-manager who is personally responsible for the firm?s actions and debts. e) allows easy transferability of ownership by the trading of shares.
One disadvantage of the pre-1914 gold standard was that
A. pressures to adjust were placed mainly on countries in payments deficit situations, and not on countries in surplus. B. slow expansion of the world's gold stock led to too much inflation in the prices of products other than gold. C. internal prices of economies being rigid, there arose uncertainty in the international trade. D. central banks often changed their announced gold prices to achieve competitive devaluations.