What is a currency board?
a. A fixed exchange rate that, by law, exchanges domestic currency for a specified foreign currency at a fixed exchange rate.
b. A floating exchange rate.
c. A managed floating exchange-rate policy that the government adjusts periodically according to some economic indicator.
d. A laissez-faire exchange-rate policy.
e. An interventionist exchange-rate policy.
a
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When the amount of output is such that marginal social benefit exceeds marginal social cost, then to reach the efficient quantity
A) production should be increased. B) production should be decreased. C) production should remain constant. D) More information is needed to determine if production should be increased, decreased, or not changed.
Indifference curve analysis is based on numerical measurement of utility
a. True b. False Indicate whether the statement is true or false