The efforts of a nation to influence exchange rates is known as:
A. open market operations.
B. foreign exchange market intervention.
C. rate discrimination.
D. establishing terms of trade.
Answer: B
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Profit maximization occurs at the quantity where marginal cost equals marginal revenue
a. True b. False
In a simultaneous equations model, if any variable is determined outside of the model, then it is considered a(n):?
A. ?endogenous variable. B. ?random variable. C. ?exogenous variable. D. ?error variable.
If a business's total economic cost of producing 1,500 units of a product is $15,000 and this output sold to consumers for $16,500, then the firm would earn an economic profit of:
a. $16,500 b. $1,500 c. $15,000 d. $1,000
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.