Under a managed float,
a. currency traders "buy low and sell high"
b. a central bank attempts to stabilize an exchange rate
c. national governments use fiscal policy to prevent inflation
d. managers allow product prices to float in response to supply and demand shifts
e. governments attempt to harmonize their tax policies.
B
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Which of the following is not a major function of the Federal Reserve System?
A) setting income tax rates B) controlling the money supply C) lender of last resort D) clearing checks between banks
________ policies involve government support for manufacturing sectors in which a country has potential comparative advantage
A) Comprehensive development B) Primary-export-led development C) Import-substitution development D) Outward-looking development