Attempts to shield the poor from the worst results of adjustment programs involve
a. expenditure-switching policy
b. absorption
c. a social safety net
d. conditionality
e. all of the above
C
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A swap that involves the exchange of one set of interest payments for another set of interest payments is called
A) an interest rate swap. B) a currency swap. C) a swaption. D) an international swap.
Which of the following is NOT true of the foreign-exchange market?
A) It is an over-the-counter market. B) Most foreign-exchange trading takes place in London. C) The busiest trading time is morning east coast time, when markets in New York and London are both open. D) Trading volume worldwide exceeds $1 trillion per day.
When considering international trade, which of the following would be most conducive to domestic economic growth?
A) a closed economy B) an economy in which its domestic industries are protected by tariffs C) an economy with free and open markets to the outside world D) an economy in which most decisions are made by a central governmental authority
Using the aggregate demand/aggregate supply model, explain the difference in the employment prospects of the graduates of 2007 and 2009