Many East Asian currencies during the 1990s were
a. allowed to float freely
b. pegged to the Japanese yen
c. pegged to the U.S. dollar
d. pegged to gold
e. none of the above
C
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In an economy with lump-sum taxes and no international trade, if the marginal propensity to consume is 0.8, which of the following is true?
a) when consumption increases by $5, investment increases by a maximum of $1 b) when consumption increases by $5, savings increase by a maximum of $1 c) when investment increases by $1, income increases by a maximum of $5 d) when investment increases by $1, consumption increases by a maximum of $5 e )when income increases by $1, investment increases by a maximum of $5
The Board of Governors of the Federal Reserve serves on a larger policy-making group called the House Banking Committee
Indicate whether the statement is true or false