The collapse of the Bretton Woods system of fixed exchange rates during the 1970s prompted the EC to establish its own system. It was called the:
A) Marshall Plan.
B) European Currency Union (ECU).
C) European Monetary System (EMS).
D) lend-lease plan.
Ans: C) European Monetary System (EMS).
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Microeconomics is concerned with
A. the aggregate or total levels of income, employment, and output. B. a detailed examination of specific economic units that make up the economic system. C. the establishing of an overall view of the operation of the aggregate economic system. D. how government debt affects aggregate economic activity.
If no foreign residents owned any of the U.S. public debt, then it would be true that
A) U.S. residents would essentially owe the public debt to themselves. B) there would be no distributional consequences associates with he public debt. C) there would be no interest payments on the public debt. D) the public debt would naturally disappear over time.
Low-income countries are largely responsible for excess carbon dioxide emissions globally
Indicate whether the statement is true or false
Your savings account balance would be counted in which measure of money?
A. Hard money B. M2 C. M1 D. It would be counted in both M1 and M2