Which of the following policies has succeeded in reducing fishery catch sizes?
A. Limiting the length of the catch season.
B. Limiting the number of boats allowed in a given area.
C. Limiting catch size (TAC).
D. All of these.
Answer: C
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GDP is: a. the value of all final goods and services produced domestically within a given period of time
b. the value of all final good and services produced anywhere in the world by a nation's firms within a given period of time. c. the value of all final goods and services produced by a government within a given period of time. d. the sum of all currency and coins in circulation.
Suppose the government of South Island has fixed the value of its currency, the Islandia, at $0.50 per Islandia, but the market equilibrium value of the Islandia is $0.75 per Islandia. In order to maintain the official value of the Islandia the Central Bank of South Island must either ________ domestic interest rates or supply Islandia, which causes the supply of international reserves to ________.
A. raise; decrease B. lower; increase C. lower; decrease D. raise; increase