Monetary policy operations for central banks are run through changes in the liability category of:
A. currency.
B. government's accounts.
C. gold.
D. reserves.
Answer: D
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A country has an absolute advantage in the production of a good if that country
a. can produce the good using fewer resources than another country would require b. has the lowest opportunity cost of producing the good and can produce it with the fewest resources c. has the lowest opportunity cost of producing the good regardless of whether it is produced with the fewest resources d. has the greatest opportunity cost of producing the good regardless of whether it is produced with the fewest resources e. has the greatest opportunity cost of producing the good and produces it with the fewest resources
If the opportunity cost of a television set equals 20 cameras in China, but 10 cameras in Japan, then we know
a. all of the following b. that China has a comparative advantage in producing cameras c. that Japan has a comparative advantage in producing TV sets d. that Japan may well have an absolute disadvantage in producing both goods e. that market exchange of 1 TV set for 15 cameras would produce not only mutually beneficial trade, but would also split the gains from trade equally between the two countries
The gold standard is a type of
A) fixed exchange rate system. B) flexible exchange rate system. C) floating exchange rate system. D) barter currency system.
Ted spread is
A) the difference between the riskless rate and the rate at which banks are willing to lend to each other. B) the difference between the riskless rate and the yield on corporate bonds. C) the difference between the riskless rate and return on stocks. D) none of the above