Soft pegs that are periodically adjusted are called
A) crawling pegs.
B) hard pegs.
C) snakes.
D) managed floats.
A
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To have a monopoly in an industry there must be
A) a public franchise, making the monopoly the exclusive legal provider of a good or service. B) an inelastic demand for the industry's product. C) barriers to entry so high that no other firms can enter the industry. D) a patent or copyright giving the firm exclusive rights to sell a product for 20 years.
Potential output depends on all of the following except one. Which is the exception?
a. The supply of labor b. Labor productivity c. Household choices regarding labor and leisure d. The technology in current use e. The number of consumers in the market
To say that something is scarce means that:
a. it is no longer available in stores. b. it must be conserved at any cost. c. even the government cannot supply it. d. sufficient amounts of it available only at a zero price. e. not enough is available to satisfy people's wants at a zero price.
The extent to which a given change in investment affects aggregate demand depends:
a. on the change in interest rate. b. on the size of the spending multiplier. c. on the change in money supply. d. on the change in investment.