Eco 213 - Study guides, Class notes & Summaries

If a country's currency is determined only by the demand and supply for that country's currency, the country is said to have a - answer-floating exchange rate. Countries that use the euro as their currency face similar concerns as countries did during the years of the gold standard in that each are - answer-Unable to conduct monetary policy If a country's currency is pegged to the dollar its exchange rate is - answer-fixed A decrease in a fixed exchange rate from 1.75 per pound to 1....

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1) Economics is the study of A) supply and demand. B ) how to make money in a market economy. C) the choices everybody makes to attain their goals, given their scarce resources. D) how to make money in the stock market.  C) the choices everybody makes to attain their goals, given their scarce resources. 2) What assumptions about humans do economists make? A) People are greedy and selfish. B ) None, because economics takes humans as given. C) Humans prefer to live in a societ...

1) Rising prices erode the value of money as a ________ and a ________. A) medium of exchange; store of value B) unit of barter; unit of account C) store of value; unit of barter D) store of value; unit of liquidity  A) medium of exchange; store of value 2) The Fed's two main monetary policy targets are A) the money supply and short term interest rates. B) the inflation rate and real GDP C) short term interest rates and real GDP. D) the money supply and the inflation rate. ...