A problem with the operation of the gold standard in the world economy was that
A) it involved too much government intervention in the economy.
B) the world economy was subject to too much inflation.
C) a country did not have control of its domestic monetary policy.
D) it caused the Great Depression.
C
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In a given year, the value of U.S. exports and imports ________
A) is equal to the value of U.S. foreign exchange transactions B) is a relatively large fraction of U.S. foreign exchange transactions C) is a relatively small fraction of U.S. foreign exchange transactions D) does not involve a foreign exchange transaction
Unused lines of credit on credit cards are part of M2
a. True b. False Indicate whether the statement is true or false
In many countries, the government chooses to "internalize" the monopoly by owning monopoly providers of goods and services. (In some cases these firms are "nationalized," and the government actually buys or confiscates firms that operate in monopoly
markets). What would be the advantages and disadvantages of such an approach to ensure that the "best interest of society" is promoted in these markets? Explain your answer.
During inflationary periods,
A. the real value of money rises. B. the real value of money remains constant. C. the real value of money falls. D. the purchasing power of money rises.