Which of the following is NOT a function of the International Monetary Fund?
A) serve as lender of last resort for national governments
B) administer an international foreign exchange system
C) establish the SDR system nations utilize to settle international payment obligations
D) establish and administer each nation's fiscal and monetary policies
D
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When money enables us to convert excess goods into money and retain the money, it is acting as a
a. medium of exchange. b. standard of value. c. standard of deferred payment. d. store of value.
A decrease in the price of a commodity results in a(n)
a. decrease in supply b. decrease in quantity demanded c. increase in demand d. decrease in quantity supplied e. increase in supply
If the United States has a $300 billion trade deficit, then there must be:
A. no capital inflows or capital outflows. B. net capital outflows of $300 billion. C. net capital inflows of $300 billion. D. net capital inflows of -$300 billion.
Assuming the same costs, a monopoly will:
A) produce more and charge a higher price than a perfectly competitive firm. B) produce less and charge a higher price than a perfectly competitive firm. C) produce less and charge a lower price than a perfectly competitive firm. D) produce more and charge a lower price than a perfectly competitive firm.