International exchange in which countries both import and export the same good is called:

The experience of disintermediation in the banking industry illustrates that

A) more regulation of financial markets may avoid such problems in the future. B) banks are unable to remain competitive with other financial intermediaries. C) consumers no longer desire the services that banks provide. D) markets invent alternatives to costly regulations.

A time-inconsistent monetary policy is one that:

a. is set by congressional decree. b. is based on monetary targets established by law. c. changes over time as economic conditions change. d. follows a zero percent inflation rate. e. does not adapt to changing economic conditions.