Monetary policies are
A. less effective when the exchange rate is fixed and the economy is open.
B. less effective when the exchange rate is flexible and the economy is open.
C. more effective when the exchange rate is flexible and the economy is closed.
D. more effective when the exchange rate is flexible and the economy is open.
Answer: D
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________ are non-rival in consumption
A) Public goods and private goods B) Public goods and club goods C) Public goods and common pool resources D) Private goods and common pool resources
Lizzie's budget line is shown in the figure above. The relative price of a magazine is ________ per magazine
A) 2 cookies B) 0.5 of a cookie C) $1 D) $2
Explicit costs:
A. are variable in the short run. B. are fixed in the short run. C. measure the opportunity costs of the resources supplied by the firm's owners. D. measure the payments made to the firm's factors of production.
Which patent would last the longest?
A. one for a drug that treats a life-threatening disease B. one for a drug that treats a very rare disease C. one for a drug that has many similar ones in existence D. one for a drug that treats a very common disease