For a change to be potentially efficient, no one can be made worse off.

One advantage of a managed float exchange rate system compared to a floating exchange rate system is

A) it allows the exchange rate to reflect demand and supply in the market. B) there is no need for government intervention. C) it allows greater exchange rate stability. D) it eliminates the possibility of depreciation during a recession.

The public debt is held as:

A. U.S. securities, corporate bonds, and common stock. B. Federal Reserve Notes. C. U.S. gold certificates. D. Treasury bills, Treasury notes, Treasury bonds, and U.S. savings bonds.