In 1991, Argentina established a radical institutional reform after experiencing a decade marked by financial instability. This program was called the new Convertibility Law. What did this law do?
A) made Argentina's currency fully convertible into Eurocurrency at a fixed rate
B) required that the monetary base be backed completely by U.S. dollars
C) placed limits on exports of commodities
D) made Argentina's currency fully convertible into U.S. dollars at a fixed rate and required that the monetary base be backed completely by gold or foreign currency
E) restricted risky international trade activity
D
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A reference dose (RfD) measures the amount of a
a. a pollutant one can be exposed to over a year without harm b. a hazard one can be exposed to over a year before dying c. an environmental hazard one can be exposed to over a lifetime before dying d. all of the above e. none of the above
An assumption in the model of the money supply process is that the desired levels of currency and excess reserves
A) are given as constants. B) grow proportionally with checkable deposits. C) grow proportionally with high-powered money. D) grow proportionally over time.
A nation's total external wealth is calculated as:
A) the sum of total assets minus total liabilities expressed in local currency. B) total assets expressed in foreign currency minus total liabilities expressed in foreign currency. C) the sum of total assets minus total liabilities expressed in foreign currency. D) the sum of physical assets within the nation, domestic stock market capitalization, and government assets minus total liabilities.
An increase in government spending can raise wages and prices in the short term.
Answer the following statement true (T) or false (F)