If the government chooses not to buy or sell foreign currencies, it has a:
A. flexible exchange rate.
B. fixed exchange rate.
C. gold standard.
D. partially-flexible exchange rate.
Answer: A
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The loss of capital due to the wearing out of machines is known as ________
A) saving B) investment C) consumption D) depreciation
Private firms and public bureaus differ in the sense that public bureaus
a. sometimes have top-level managers chosen by shareholders b. sell most of their output on a per unit basis c. receive most of their revenues through a budget appropriation rather than through the sales of goods or services d. are sometimes inefficient e. hire consultants to solve difficult problems
The consumer price index increases from 200 to 208 . What is the inflation rate?
List and briefly describe the five factors of production.
What will be an ideal response?