What is a currency band?
a. a limit below which the currency is not allowed to fall
b. a limit above which the currency is not allowed to rise
c. a fixed rate regime with some small variation allowed, up or down
d. a very rigid control of the currency-no variation allowed
Ans: c. a fixed rate regime with some small variation allowed, up or down
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When individuals make decisions about how much schooling to obtain, they
A) do not take account of the personal benefits that it creates. B) do not take account of the external benefits that it creates. C) overvalue the personal benefits that it creates. D) overvalue the external benefits that it creates.
Discuss the effects of government deficits on the current account
What will be an ideal response?
Which of the following circumstances would not cause GDP to either understate or overstate economic well-being today in comparison to that which existed 75 years ago?
A. A shorter workweek today B. Greater military spending today C. A trend toward merger and consolidation of business firms D. More air and water pollution
Skillbiased technological changes:
a. benefit educated workers more than uneducated workers. b. benefit all workers equally. c. benefit uneducated workers more than educated workers. d. benefit no workers.