Which of the following had prompted the Chinese authorities to stand ready to buy or sell dollars steadily and in large volume?
A. Huge current account deficit
B. Currency pegged to the dollar
C. Floating rate policy
D. Adherence to the old gold standard
Answer: B
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A country temporarily producing a combination of 12 units of guns and 5 units of butter would be ________________ (outside/on/inside) the production possibilities curve.
A trough in the business cycle occurs when
A. the inflation rate is at its lowest level. B. the natural rate of unemployment is at a minimum point. C. cyclical unemployment is at a minimum point. D. employment and output reach their lowest levels.
An increase in the number of consumers
A) results only in a movement along the demand curve. B) shifts the supply curve leftward. C) shifts the demand curve rightward. D) Both answers B and C are correct.
The capture theory holds that regulations are supplied to maximize ________
A) total sales B) economic profit C) marginal product D) consumer surplus