When a domestic currency is completely backed by a foreign currency and the note-issuing authority establishes a fixed exchange rate to this foreign currency, then the country is said to have
A) created a currency board.
B) undergone dollarization.
C) adopted a managed exchange system.
D) adopted an exchange rate monetary system.
A
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The automobile, breakfast cereal, and tobacco industries are examples of
a. monopolistic competition b. oligopoly c. perfect competition d. monopoly e. monopsony
For any given tax, imposing a tax in a market with a highly inelastic demand will:
A. cause more deadweight loss than a market with an elastic demand. B. generate higher revenues than a market with an elastic demand. C. Both of these statements are true. D. Neither of these statements is true.
Technological advances can cause the labor demand curve to shift
a. True b. False Indicate whether the statement is true or false
Use a leaky bucket to discuss the trade off between income equality and economic efficiency
What will be an ideal response?