Economic question help 10 pts!!!!!?
March 17th, 2010
1.One of the consequences of the U.S. trade deficit is that:
a.domestic inflation has resulted.
b.the accumulation of American dollars in foreign hands has enabled foreign firms to build factories in America.
c.the distribution of income in the United States has become less unequal.
d.the system of flexible exchange rates has been abandoned in favor of a new gold standard.
2.Under the managed floating system of exchange rates:
a.all exchange rates vary with changes in the free-market prices of gold.
b.industrialized nations meet once each year to negotiate readjustments in their exchange rates.
c.exchange rates are essentially flexible, but governments intervene to offset disorderly fluctuations in rates.
d.exchange rates are adjusted at the discretion of the IMF.
3.The basis for the Bretton Woods international monetary system was:
a.a completely fixed system of exchange rates.
b.an adjustable peg system of exchange rates.
c.the gold standard.
d.a freely flexible system of exchange rates.
4.Under an international gold standard:
a.a nation’s exchange rate is virtually fixed.
b.domestic output and the price level will fall in those nations receiving international gold flows.
c.a nation’s balance of payments surplus will be corrected by an outflow of gold.
d.a nation’s balance of payments deficit will be corrected by an inflow of gold.
5.The idea that freely floating exchange rates equate the purchasing power of national currencies is called:
a.the equation of exchange.
b.the balance of payments.
c.Say’s Law.
d.the purchasing power parity theory.
6.Appreciation of the Canadian dollar will:
a.intensify an existing disequilibrium in Canada’s balance of payments.
b.make Canada’s exports less expensive and its imports more expensive.
c.make Canada’s exports more expensive and its imports less expensive.
d.make Canada’s exports and imports both more expensive.
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Tags: america c, american dollars, balance of payments, bretton woods, disequilibrium, domestic inflation, exports and imports, flexible exchange rates, flexible system, floating exchange rates, gold standard, imf 3, inflow, international gold, international monetary system, national currencies, new gold, outflow, purchasing power parity, purchasing power parity theory
that should be 10 points for each question.