In a system in which there is an administered exchange rate, what is the term used when the government sets the rate lower to buy more units of foreign currency?
A) a revaluation
B) an appreciation
C) a depreciation
D) a devaluation
Ans: A) a revaluation
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A(n) ________ is an auction in which bids are placed publicly and the price decreases until a bidder stops the auction
A) open outcry English auction B) open outcry Dutch auction C) silent auction D) penny auction
Just prior to the year 2000, the Fed was concerned that people would make larger than normal bank withdrawals out of fear of what was called the "Y2K computer bug." Fearing that this would disrupt the banking system, the Fed wanted to use a defensive action to prevent any such disruption. This would take the form of open market bond:
A. sales that would prevent the federal funds rate from increasing. B. purchases that would prevent the federal funds rate from decreasing. C. purchases that would prevent the federal funds rate from increasing. D. sales that would prevent the federal funds rate from decreasing.
Suppose Jack's salary increased from $100,000 to $200,000 per year between 2004 and 2014 and the price index increased from 100 to 300 during the same period. Which of the following statements best describes Jack's situation? a. His real income and money income have both increased
b. His real income has increased and money income has decreased. c. His real income and money income have both decreased. d. His real income has decreased and money income has increased. e. His real income has remained unchanged.
The movement of individuals and households from one income quintile to another over time is called:
A. income averaging. B. wealth turnover. C. income mobility. D. the ratchet effect.