In the United States, real GDP is currently calculated using
A) a variable-weighting scheme.
B) a chain-weighting scheme.
C) a fixed-weighting scheme.
D) an autoregressive scheme.
B
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A persistent shortage or surplus of a currency under the Bretton Woods system was evidence of
A) failure to support the existing fixed exchange rate by central banks. B) speculation against the currency by speculators in world exchange markets. C) fundamental disequilibrium in the country's exchange rate. D) all of the above
In the long run the real interest rate is determined by ________, and in the short-run the Federal Reserve can control the real interest rate by setting the nominal interest rate if inflation adjusts ________.
A. the Federal Reserve; slowly B. the Federal Reserve; to equal the increase in the money supply C. saving and investment; slowly D. saving and investment; quickly