Which organization functions as a lender of last resort for national governments?
A) the International Monetary Fund B) the World Bank
C) the Federal Reserve Bank D) the U.S. Treasury
A
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The wage earned by a domestic resident for working in a foreign company for a month is an example of a(n) ________
A) factor payment from foreigners B) transfer payment from foreigners C) export by the domestic resident D) import by the domestic resident
In the monetary small open-economy model, a flexible exchange rate insulates the domestic price level from
A) both real and nominal shocks from abroad. B) real shocks from abroad, but not from nominal shocks from abroad. C) nominal shocks from abroad, but not from real shocks from abroad. D) neither real nor nominal shocks from abroad.
You are sick and tired of your old wardrobe. You decide to donate it to a charity of your choice. Your action
a. Creates wealth by moving the clothes from lower value use to higher value use b. Destroys wealth since you lose your clothes c. Creates wealth by making you feel richer d. All of the above
The price controls on consumer goods during World War II led to
a. permanent surpluses. b. stable long-term prices. c. a burst of inflation when they were ended. d. increased production of consumer goods to satisfy demand.