Compared to dollarization, a currency board
A) has a flexible exchange rate.
B) has a separate currency.
C) conducts independent monetary policy.
D) is the same institution.
B
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According to the article, we can conclude that the standard of living
A) is higher in Brazil because its citizens feel more control over their lives and have experienced job and wage growth. B) is higher in Japan because their life expectancy is longer. C) is higher in Japan because its GDP is higher. D) might be higher in Japan because it has a higher per capita real GDP but other factors such as Brazilians' satisfaction with their lives and economic growth should be considered when determining economic well-being.
The price elasticity of demand for a specific model of a luxury car is likely to be
A) elastic. B) inelastic. C) 0. D) infinite.