__________ are backup or secondary plans to be used in case the first plan does not work out
a. Unilateral
b. Directional
c. Multilateral
d. Contingency
D
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Explain what economic efficiency is. How does a price system lead to economic efficiency?
What will be an ideal response?
An increase in the price of good X causes the demand for good Y to shift inward. One can conclude that X and Y are:
a. complements. b. substitutes. c. unrelated goods. d. normal goods. e. exceptions to the law of demand.
Which of the following is an example of a managed float?
a. The Fed buys or sells U.S. dollars in order to maintain a fixed $1.05 per euro exchange rate. b. The European Central Bank buys or sells euros in order to "peg" the price level. c. The Bank of England buys or sells British pounds in order to maintain a fixed exchange rate with the U.S. dollar. d. The Bank of Japan intervenes in the foreign exchange market to prevent a rapid depreciation of the yen. e. The Bank of Japan intervenes to set the tax rate very close to the tax rates of other countries.
If a bond's coupon adjusts to pay a constant real rate of return, then an increase in inflation would cause
A) the nominal coupon payment to rise. B) the nominal coupon payment to fall. C) the nominal coupon payment to remain unchanged. D) the bond's price to fluctuate wildly.