The EMU created a currency area with more than

In differentiating between the short-run and long-run elasticities for the same good, when economists talk about short-run elasticities,

a. they cannot distinguish between the two types b. there is no differentiation if it's the same good c. they are the same as long-run elasticities for the same good d. they are usually higher than long-run elasticities e. they are usually lower than long-run elasticities

Which of the following had prompted the Chinese authorities to stand ready to buy or sell dollars steadily and in large volume?

a. Huge current account deficit b. Currency pegged to the dollar c. Floating rate policy d. Adherence to the old gold standard