A country that exhausts its foreign exchange reserves and then resorts to devaluation may be said to have
a. adjusted its exchange rate
b. imposed import controls
c. imposed exchange controls
d. borrowed currencies in the foreign exchange market
e. borrowed foreign currencies from the IMF
A
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Why would people outside the United States choose to hold dollars?
What will be an ideal response?
As the Fed maintained interest rates at near zero during 2008-2012,
a. the economy recovered and the unemployment rate fell to normal levels. b. households and businesses held larger money balances and the velocity of money fell substantially. c. stock prices declined during 2010-2012, causing the economy to remain weak. d. the earnings senior citizens derived from saving deposits and other forms of savings rose substantially, leading to higher incomes and a strong increase in aggregate demand.
A decrease in population can be expected to
a. increase the marginal product of land. b. decrease the supply of land. c. decrease the rents on land. d. increase the demand for land.
Compute the approximate elasticity of demand from the following data:Â PriceQuantityInitial situation$2311.5New situation2013.5
A. 1.15. B. 1.5. C. 5.0. D. .87.