When a country goes to the IMF for foreign currencies to stabilize its own currency, it enages with the IMF in a(n)
a. one-time-only grant from the IMF
b. purchase-and-resale (of that currency) agreement
c. agreement concerning import controls that is administered jointly by the IMF and the country
d. exchange control agreement that is the prerogative of the IMF alone
e. agreed upon devaluation
B
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Based on the model, the competitive price level is
Consider the following model for the production of refined oil: MSC = 10 + 0.5Q; MEC = 0.3Q; MSB = 30 – 0.3Q; MEB = 0. a. PC = $18 b. PC = $20 c. PC = $25 d. PC = $40
Social security benefits have exceeded/will exceed payroll taxes starting in
A. 2005. B. 2010. C. 2020. D. 2030.
Suppose the tax amount on the first $10,000 income is $0; $2000 on the next $20,000; $4000 on the next $20,000; $6000 on the next $30,000; and 40 percent on any income over $80,000. Family A has income of $30,000 and Family B has income of $80,000. What is the marginal and average tax rate for each family?
A. Family A: marginal-10 percent; average-10 percent; Family B: marginal-40 percent; average-40 percent. B. Family A: marginal-10 percent; average-20 percent; Family B: marginal-30 percent; average-23 percent. C. Family A: marginal-10 percent; average-15 percent; Family B: marginal-40 percent; average-20 percent. D. Family A: marginal-10 percent; average-6.7 percent; Family B: marginal-20 percent; average-15 percent.
A change in tastes for U.S. produced goods will
A. shift both the aggregate demand curve and the long-run aggregate supply curve. B. shift the long-run aggregate supply curve. C. shift the aggregate demand curve. D. shift the short-run aggregate supply curve.