Refer to Table 9-11. Which country has an absolute advantage in producing hats?
A) Belize B) Denmark C) both countries D) neither country
B
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If the currency drain ratio is zero, which of the following situations leads to the greatest total increase in the quantity of money?
A) an increase in the monetary base of $250,000 when the desired reserve ratio is 15 percent B) an increase in the monetary base of $100,000 when the desired reserve ratio is 5 percent C) an increase in the monetary base of $120,000 when the desired reserve ratio is 10 percent D) an increase in the monetary base of $100,000 when the desired reserve ratio is 50 percent E) an increase in the monetary base of $200,000 when the desired reserve ratio is 20 percent
What are the differences and similarities between a depreciation and devaluation of a currency?
What will be an ideal response?
If the output gap is greater than zero, real GDP is ________ potential GDP, and the economy will ________ to reach full employment
A) greater than; expand B) greater than; contract C) less than; expand D) less than; contract
The country with the highest degree of central bank independence in the period 1973-88 was ________
A) the United States B) New Zealand C) Spain D) Germany