The term "dirty float" is used to describe a
a. black market in foreign currencies.
b. floating currency that is "managed" by central bank authorities.
c. nation that switches from free to fixed exchange rates.
d. currency system used only in inflationary periods.
b
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Archie can paint 5 backyard fences or repair 2 cars in 8 hours, while Austin can paint 4 backyard fences or repair 2 cars in 8 hours. Identify the correct statement
a. Archie is relatively better in repairing cars. b. Archie is relatively better in painting fences. c. Austin is relatively better in painting fences. d. Archie and Austin are equally good in painting fences. e. Neither Archie not Austin are good in repairing cars.
Countries import some goods and export other goods primarily because of:
A) unemployment. B) self-sufficiency. C) comparative advantage. D) the law of increasing opportunity cost.
The price elasticity of ______ measures how responsive the quantity sellers are willing and able to sell is to changes in price.
a. income b. supply c. equilibrium d. demand
If you lost 10 percent on $200 worth of stock in a 2x margin account, then you would:
A. lose $20. B. gain $40. C. gain $20. D. lose $40.