Under the EMS, Germany set the system's
A) monetary policy while the other European countries pegged their currencies to the DM.
B) fiscal policy while the other European countries pegged their currencies to the DM.
C) monetary policy while the other European countries kept their currencies fluctuating relative to the DM.
D) fiscal policy while the other European countries kept their currencies fluctuating relative to the DM.
E) monetary policy, while other European countries maintained their traditional policies.
A
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If the Fed tries to lower the unemployment rate so it is lower than the natural unemployment rate, in the short run before the expected inflation rate changes, the SRPC ________ and the LRPC ________
A) shifts downward; shifts leftward B) shifts downward; does not change C) does not change; shifts rightward D) shifts upward; does not change E) does not change; does not change
Exploiting a nonrenewable natural resource is likely to:
A. create more productive workers in all facets of the economy. B. lead to a sustainable high rate of growth in income for a country. C. lead to a higher level of income for a country. D. All of these are true.
What is the reason for the law of increasing opportunity costs?
What will be an ideal response?
Suppose the economy's production function is Y = AK0.3N0.7. If K = 2000, N = 100, and A = 1, then Y = 246. If K and N both rise by 20%, and A is unchanged, by how much does Y increase?
A. 5% B. 20% C. 10% D. 15%