Which of the following may not be true for "multiple exchange rates"?
A) They are a form of protectionism.
B) They try to improve a country's BOP.
C) They use different exchange rates for different international transactions.
D) They are less costly to administer than floating exchange rates.
D
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In a simple economy (no government), the vertical distance between the consumption function and the expenditure schedule measures
A. undesired inventory depletion. B. planned investment C. undesired investment. D. unintended investment.
Discuss the production function. How does the production function relate to the labor market and potential GDP?
What will be an ideal response?
Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics.
1) The effect of government regulation on a monopolist's production decisions.
2) The government's decision on how much to spend on public projects.
3) The effects of the Internet on the pricing of used cars.
Demand for one item goes down when the price of another item goes up. These items must be
A. substitutes. B. inferior goods. C. normal goods. D. complements.