Economic experience since 1973 indicate that, under floating exchange rates, symmetry
A) was not attained.
B) was attained almost immediately.
C) was attained over time as central banks held more U.S. dollars as a reserve currency.
D) has been difficult to measure and no consensus has emerged.
E) has been attained in foreign countries, but not domestically.
A
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Mike starts his own business after quitting his job in which he made $75,000. Expenses include $100,000 for wages and salaries, which includes a wage for the owner of $75,000, utilities of $5000, equipment of $50,000, and materials of $40,000. If
revenues are $200,000, his accounting and economic profits are respectively A) $80,000 and $5,000. B) -$70,000 and -$70,000. C) -$70,000 and $5,000. D) $5,000 and $5,000.
The Federal Open Market Committees
A. include all seven members of the Board of Governors, the President, and ranking members of the Senate and Congress. B. conduct the most important parts of monetary policy. C. has complete control over the entire financial system. D. is responsible for the fiscal policy of the United States.