The gold standard is an example of
A) the Bretton Woods System.
B) a floating exchange rate system.
C) a managed float exchange rate system.
D) a flexible exchange rate system.
E) a fixed exchange rate system.
E
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Economic theory
A. is a deliberate simplification of factual relationships. B. seeks to disprove a hypothesis. C. is based mainly on assumptions. D. seeks to prove political ideals.
Which of the following changes would have the largest impact on the CPI?
A) a one percent increase in the cost of housing B) a one percent increase in the cost of transportation C) a one percent increase in the cost of medical care D) a one percent increase in the cost of education E) a one percent increase in the cost of apparel
Covered interest arbitrage involves both
A) the purchase of a foreign asset and a forward contract in the market for foreign exchange. B) the purchase of a domestic asset and a spot contract in the market for foreign exchange. C) the sale of a foreign asset and the purchase of a forward contract in the market for foreign exchange. D) the sale of domestic stocks and the purchase of foreign bonds. E) None of the above.
Thomas Jefferson argued that the U.S. should adopt the Spanish dollar as the official unit of account because
a. so many colonists came from Spanish-speaking nations. b. it was based on the decimal system. c. it was less prone to inflation than other units of account. d. it was the unit of account used in most European countries.