Under the Bretton Woods system, the United States was designated as the
A) reserve-currency country.
B) fixed-rate country.
C) par-standard country.
D) dollar-standard country.
A
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A recession is commonly defined as a period with
A) negative growth rate in real GDP that lasts at least one quarter. B) positive growth rate in real GDP that lasts at least one quarter. C) positive growth rate in real GDP that lasts at least two quarters. D) negative growth rate in real GDP that lasts at least two quarters.
The impact of crowding out
A) is larger in an open economy as compared to a closed economy. B) is larger in a closed economy as compared to an open economy. C) is larger in an open economy as compared to a closed economy when fiscal policy is contractionary. D) is larger in a closed economy as compared to an open economy when fiscal policy is contractionary.
Suppose that a series of decisions by banks effectively raises e. The resulting ________ in the money supply could be offset by the Fed with a "defensive" open market ________ of government securities
A) rise, purchase B) rise, sale C) fall, purchase D) fall, sale
Whenever there is inflation, increase in nominal gross domestic product (GDP) overstates the growth rate of the economy
a. True b. False Indicate whether the statement is true or false