Today, the most common exchange rate arrangement in the world is
A) the fixed exchange rate system.
B) the gold standard system.
C) the managed floating system.
D) the freely floating exchange rate system.
Answer: A
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How are intermediate goods treated in the calculation of GDP?
A) Their value is counted separately, and their value is also included as part of the value of the final good for which they are an input. B) Their value is counted separately, but is not included as part of the value of the final good for which they are an input. C) They are included only if they are imported. D) Their value is not counted separately, but included as part of the value of the final good for which they are an input.
Which of the following is the best example of an investment in human capital?
a. the purchase of an industrial development bond b. a graduate student who completed 24 semester units in economics last year c. the purchase of a lawn mower by a homeowner d. an unemployed stockbroker who drives a cab in order to pay his bills