A problem with currency boards is that the central bank loses:
A. influence over interest rates.
B. a flexible exchange rate is always preferred to a pegged exchange rate.
C. control over the government budget.
D. the ability to supervise banks.
Answer: A
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Indicate whether the statement is true or false
The law of supply states that price and quantity supplied are
A) inversely related, ceteris paribus. B) directly related, ceteris paribus. C) not related. D) fixed.
Refer to Table 8.2. If Sherry produces three pairs of earrings, her total variable costs are A) $26.67. B) $140. C) $175. D) $225
If, when a firm doubles all its inputs, its average cost of production decreases, then production displays
A) diminishing returns. B) economies of scale. C) diseconomies of scale. D) declining fixed costs.