The gold standard is an example of
A) the Bretton Woods System.
B) a floating exchange rate system.
C) a managed float exchange rate system.
D) a flexible exchange rate system.
E) a fixed exchange rate system.
E
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In a duopoly situation, the logic of self-interest results in a total output level that
a. equals the output level that would prevail in a competitive market. b. equals the output level that would prevail in a monopoly. c. exceeds the monopoly level of output, but falls short of the competitive level of output. d. falls short of the monopoly level of output.
If you believe that government intervention to achieve full employment without inflation can be effective, you are a member in good standing in the
a. Phillips school b. classical school c. Keynesian school d. neo-Keynesian school e. rational expectations school