To improve its standard of living, a nation's economy must
(A) Let the government make economic decisions.
(B) Reach economic equality.
(C) Grow through innovation.
(D) Remain stable.
Ans: (C) Grow through innovation.
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If the quantity of money supplied does not respond to changes in the interest rate, then the money supply curve is
A) vertical. B) horizontal. C) relatively flat but upward sloping. D) relatively steep but upward sloping.
In a closed economy
A) I = Y - C - G. B) I = Y + C - G. C) I = Y + C + G. D) I = Y - C + G.
After Bretton Woods period, countries chose to control
A) fixed exchange rate only. B) monetary policy oriented toward domestic goals only. C) freedom of international capital movements only. D) fixed exchange rate and freedom of international capital movements. E) fixed exchange rate and monetary policy oriented toward domestic goals.