A nation running a persistent balance of payments surplus while part of a fixed exchange rate system would be required to __________ international reserves in an effort to prevent its currency from __________

Keynes and his followers believed that

A) the economy could not operate at any level of real Gross Domestic Product (GDP) less than full capacity. B) capitalism was one economic system that guaranteed full employment. C) wages and prices in the short run were flexible. D) there was no guarantee that a capitalist economy would reach a full employment equilibrium.

From the beginning of 1973 until August 2015, the value of the dollar has ________ relative to the Canadian dollar and ________ relative to the Japanese yen

A) depreciated; appreciated B) appreciated; depreciated C) depreciated; depreciated D) appreciated; appreciated