The gold standard is
A. one way of achieving a fixed exchange rate system.
B. the only way of achieving a floating exchange rate system.
C. the only way to achieve a fixed exchange rate system.
D. one way of achieving a floating exchange rate system.
Answer: A
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An economy experiences a recessionary ga
A) falls, shifting the aggregate supply curve rightward. B) rises, shifting the aggregate supply curve leftward. C) rises, shifting the aggregate demand curve rightward. D) falls, shifting the aggregate demand curve leftward. E) falls, increasing potential GDP.
If a British student pays her way to attend Harvard University, her action will:
A) cause the exchange rate of the British pound to rise. B) cause the exchange rate of the U.S. dollar to fall. C) change the supply of dollars in the foreign currency market. D) change the supply of pounds in the foreign currency market.