The free floating exchange rate system has been in effect since
A. 1900.
B. 1933.
C. 1945.
D. 1973.
D. 1973.
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A surplus of labor is eliminated by ________ in the real wage rate and a shortage of labor is eliminated by ________ in the real wage rate
A) an increase; a decrease B) a decrease; an increase C) an increase; an increase D) a decrease; a decrease E) None of the above answers is correct because shortages and surpluses are eliminated by changes in the demand for labor and the supply of labor, not the wage rate.
All of the following are characteristics of the pure coordination game except
A) Nash equilibria exist at every outcome where players successfully coordinate. B) each player has a dominant strategy. C) the payoff for coordinating is higher than the payoff for not coordinating. D) the two general outcomes are that the players either coordinate with each other or they do not.
A risky small business stands the best chance of finding external financing from
A) a commercial finance company. B) a commercial bank. C) an investment bank. D) trade credit.
Current projections indicate that by the year 2030, there will be ________ tax-paying workers for every retiree collecting Social Security.
A. 2.0 B. 3.3 C. 16.0 D. 2.7