What is a currency board?
a. A fixed exchange rate that, by law, exchanges domestic currency for a specified foreign currency at a fixed exchange rate.
b. A floating exchange rate.
c. A managed floating exchange-rate policy that the government adjusts periodically according to some economic indicator.
d. A laissez-faire exchange-rate policy.
e. An interventionist exchange-rate policy.
a
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One reason why it is difficult to regulate a natural monopoly is
a. the lack of relevant economic theory b. determining what price the firm is actually charging its customers c. determining the appropriate side payment d. an information problem — the monopoly's managers have an incentive to overstate costs e. an information problem — the monopoly's managers have an incentive to overstate revenues
The most efficient distribution of pollution abatement is such that the:
A. marginal cost of abatement is the same across all polluters. B. extent of pollution abatement is the same across all geographic regions. C. largest reductions in pollution are made by the largest polluters. D. extent of pollution abatement is the same across all polluters.