The use of foreign exchange reserves to keep exchange rates constant over time is called
A. barter exchange system.
B. a fixed exchange rate system.
C. the Bretton Woods system.
D. a floating exchange rate system.
Answer: B
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Disposable personal income equals personal income
A) minus personal tax payments plus government transfer payments. B) plus government transfer payments. C) minus personal tax payments. D) minus government transfer payments plus personal tax payments.
(Scenario: Growth Rates) Look at the scenario Growth Rates. According to the rule of 70, how large will China's real GDP per capita be in 20 years?
What will be an ideal response?
A nation can produce two products: steel and wheat. The table below is the nation's production possibilities schedule:
Refer to the above table. If the nation uses all of its resources to produce only wheat, then its production combination will be:
A. A
B. B
C. E
D. F
In principle, a cap-and-trade program would
A. lower the production costs of all firms. B. raise the production costs of all firms. C. cause firms to generate more pollution than their allowed limits. D. cause firms to generate less pollution than their allowed limits.