Over a month in late 2008, the Federal Reserve Bank reduced the interest rate by 1 percentage point
Given that the United States operates under a ________ exchange rate regimes, the primary purpose of these changes was ________ exchange rate of each currency. A) flexible; not designed to influence
B) flexible; designed to influence
C) fixed; designed to influence
D) fixed; not designed to influence
A
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Even though it is not a perfect measure, economists can use real GDP to
i. compare how the value of the goods and services produced in China have changed over the past 10 years. ii. look at the length of recessions and expansions in the United States. iii. compare the standard of living in China versus the standard of living in Vietnam. A) ii only B) i, ii and iii C) i and iii D) i and ii E) ii and iii
________ shows that if all resources are fully and efficiently utilized, more of one good can be produced only by producing less of another good
A) Comparative advantage B) Absolute advantage C) The mixed market system D) The production possibilities frontier model