When the value of a currency is determined ________, the exchange rate system is defined as managed float
A) only by supply and demand
B) by its issuing government, with occasional readjustments in value
C) mostly by supply and demand, but with occasional government intervention
D) by its issuing government
C
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Which of the following is an accurate comparison between personal income (PI) and disposable personal income (DPI)?
a. DPI is more than PI. b. DPI is less than PI. c. DPI is equal to PI. d. DPI is more than PI at times and less than PI at times.
A consumer's willingness to pay:
A. is his or her reserved minimum bid-price. B. is the maximum price that a buyer would be willing to pay for a good or service. C. must always equal the seller's willingness to sell. D. is the minimum price that a buyer would be willing to pay for a good or service.
Which of the following is an example of a subsidized service?
A) Social Security payments to retirees B) Social Security payments to widows C) welfare payments to the unemployed D) Medicare reimbursements to hospitals
U.S. potential GDP is the value of the goods and services produced in the United States ________
A. in the reference base year B. when the U.S. unemployment rate is zero C. when the U.S. economy is at full employment D. when the U.S. inflation rate is zero