Economic experience since 1973 indicate that, under floating exchange rates, symmetry
A) was not attained.
B) was attained almost immediately.
C) was attained over time as central banks held more U.S. dollars as a reserve currency.
D) has been difficult to measure and no consensus has emerged.
E) has been attained in foreign countries, but not domestically.
A
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In the United States for the last 40 years, the nominal interest rate
A) and the real interest rate both decreased in almost every year. B) and the real interest rate were both constant in almost every year. C) was constant in most years and the real interest rate fluctuated. D) exceeded the real interest rate in virtually all the years. E) exceeded the real interest rate in about one half of the years and the real interest rate was greater than the nominal interest rate in the other half of the years.
Standardization of derivative contracts
A) increases their liquidity. B) is the rule with respect to contracts whose underlying asset is a financial security, but not for contracts whose underlying asset is a commodity. C) is the rule with respect to contracts whose underlying asset is a commodity, but not for contracts whose underlying asset is a financial asset. D) has been proposed many times by financial analysts, but has not yet been carried out by the SEC.
The idea that every Pareto efficient allocation is the competitive equilibrium for some initial allocation of resources is known as:
A. the first welfare theorem. B. the second welfare theorem. C. the third welfare theorem. D. the exchange efficiency condition.
In which of the following market structures does free entry and exit play an important role in the long-run equilibrium outcome? (i) perfect competition (ii) monopolistic competition (iii) monopoly
a. (i) only b. (i) and (ii) only c. (ii) and (iii) only d. (i), (ii), and (iii)