Low inflation is also better than _________ , which occurs with severe recessions.

If a country has a fixed exchange rate,

A) the equilibrium exchange rate in that market does not respond to changes in supply and demand for currency. B) the exchange rate is allowed to fluctuate in response to changes in the supply and demand for currency. C) central banks have more control over real GDP in the economy. D) central banks must buy and sell their holdings of currencies to maintain a given exchange rate.

Most economists agree that deregulation in the 1970s and 1980s greatly benefited consumers in the following industries, except:

A. Automotive B. Railroads C. Airlines D. Trucking