Before World War I, most countries belonged to a system of fixed exchange rates in which currencies were tied to which of the following assets?
A) The U.S. dollar
B) The British pound
C) Silver
D) Gold
D
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A baker can produce two products: cupcakes and pies. The table below is the baker's production possibilities schedule:Production Possibilities ScheduleProductABCDEFCupcakes01220365681Pies1086420Which of the following output-combinations is unattainable?
A. 2 pies and 48 cupcakes. B. 3 pies and 56 cupcakes C. 6 pies and 10 cupcakes D. 9 pies and 10 cupcakes
What is the difference between the short run and the long run when there is full employment and the government engages in deficit spending?
A) Real GDP will increase in the short run but not the long run. B) Real GDP will not increase in either the long run or the short run. C) Real GDP will increase in the long run but not the short run. D) Real GDP will increase in both the short run and the long run.
The adverse consequences of debt deflation are most evident ________
A) in the expansion of credit to high-risk borrowers B) on the balance sheets of nonfinancial businesses C) in a sharp decline in the real interest rate D) on the balance sheets of financial businesses
Since 1925, the longest expansion in the United States lasted:
A. 21 months. B. 120 months. C. 43 months. D. 60 months.