Under a gold standard, a country with a trade deficit should expect
A. gold to flow out of the country to other countries.
B. gold to flow into the country from other countries.
C. the value of its currency to appreciate.
D. the value of its currency to depreciate.
A. gold to flow out of the country to other countries.
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The change in U.S. official reserves is equal to
A) borrowing from abroad plus the current account deficit. B) the current account balance plus the capital and financial account balance. C) the current account balance minus the capital and financial account balance. D) foreign investment in the United States minus U.S. investment abroad.
If the Fed attempts to reach and maintain very low rates of unemployment, we would expect the rate of inflation to rise
Indicate whether the statement is true or false
Under the Bretton Woods system, central bankers could obtain foreign currency loans from the
A) Bank of England. B) U.S. Treasury Department. C) International Monetary Fund. D) World Trade Organization.
The marginal product of labor is calculated using the formula
A) ?Q/?L. B) Q/L. C) L/Q. D) ?L/?Q.