Under a gold standard, countries control
A) its flexible exchange rate.
B) monetary policy oriented toward domestic goals.
C) international capital movements.
D) foreign inflationary policies.
E) and avoid risks in international trade.
B
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From a social standpoint, the immediate effect of discrimination is that society ________ the talents and abilities at its disposal, and this makes everybody ________, on average
A) overuses; richer B) overuses; poorer C) fails to use; richer D) fails to use; poorer
An inelastic supply schedule means that suppliers are unable to substitute away from producing a good in response to a tax
a. True b. False
Some degree of unemployment is inevitable in a complex economy
a. True b. False Indicate whether the statement is true or false
Refer to the graph shown. Suppose an economy begins at point B but then adopts a contractionary monetary policy. In the short run, this policy would most likely:
A. reduce inflation to 3 percent and reduce unemployment to 4 percent. B. raise inflation to 9 percent and reduce unemployment to 4 percent. C. reduce inflation to 3 percent and raise unemployment to 7.5 percent. D. raise inflation to 9 percent and raise unemployment to 7.5 percent.