The current international monetary system is best described as a
a. fixed rate system.
b. completely flexible rate system.
c. gold standard.
d. mercantilist system.
e. managed floating rate system.
E
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Economic activities that signal forthcoming changes in the economy are referred to as:
a. coincidental economic indicators. b. GDP implicit price deflators c. lagging economic indicators. d. perfect economic indicators. e. leading economic indicators.
Any permanent change in the quantity of any factor of production available capital, technology, land, or labor can cause a shift in both the long-run and short-run aggregate supply curves
a. True b. False Indicate whether the statement is true or false
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.
Refer to the above diagram. A price of $60 in this market will result in:
A. a shortage of 50 units. B. a surplus of 50 units. C. equilibrium. D. a surplus of 100 units.