The exchange rate set for an immediate trade is often referred to as a
A. spot exchange rate.
B. forward exchange rate.
C. managed exchange rate.
D. pegged exchange rate.
Answer: A
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From the end of the World War II, the debt-GDP ratio in the United States fell almost without interruption to a low point in ________, which marked the beginning of a long-run climb
A) 1955 B) 1962 C) 1974 D) 1984 E) 1990
The price elasticity of demand for labor will depend upon all but the
A) price elasticity of demand for the final product. B) price elasticity of supply for the final product. C) time period being considered. D) availability of substitutes for inputs.
Consider the following simple regression model y = 
0 + 1x1 + u. Suppose z is an instrument for x. Which of the following conditions denotes instrument relevance?
A. Cov(z,u) > 0
B. Cov(z,u) < 0
C. Cov(z,x) 
0
D. Cov(z,x z) = 0
Refer to the data. If this bank has excess reserves of $6 million, the legal reserve ratio must be:
Answer the question on the basis of the following balance sheet for the First National Bank of Bunco. All figures are in millions.
A. 10 percent.
B. 12 percent.
C. 14 percent.
D. 20 percent.