1. There were fixed exchange rates with:
a. the gold standard.
b. the Bretton Woods System.
c. Unmanaged free floating rates.
d. All of the above.
e. Only A and B of the above.
2. Capital flows are automatically restricted under:
a. the gold standard.
b. the Bretton Woods System.
c. Unmanaged free floating rates.
d. Managed rates.
e. All of the above.
3. The so-called “law of one price” will hold as long as:
a. transportation costs are relatively low.
b. taxes aren’t more than 5% different across countries.
c. trade restrictions have been fully negotiated between countries.
d. goods are not identical.
e. None of the above.
4. If we decide that we would like more British goods and services, then:
a. the price of British pounds will rise.
b. the price of U.S. dollars will fall.
c. the U.S. dollar will depreciate.
d. All of the above.
e. None of the above.
5. The New Deal was dealt a blow by the Supreme Court when it ruled as unconstitutional:
a. cattle feed codes.
b. wheat allotment codes.
c. limits on the use of industrial machines.
d. live poultry codes.
e. attempts to institute an income tax.
6. The NRA lasted until May of 1935 because:
a. it had served its purpose and was no longer needed.
b. the Congress refused to reauthorize its budget.
c. the President fired the director and closed it down.
d. the Supreme Court ruled it unconstitutional.
e. 90% of the top management were indicted on charges of criminal conspiracy.
Q- 1) There were fixed exchange rates with:
Answer- (b) the Bretton Woods System.
Q- 2) Capital flows are automatically restricted under:
Answer- (d) Managed rates.
Q- 3) The so-called “law of one price” will hold as long as:
Answer- (e) None of the above.
Q- 4) If we decide that we would like more British goods and services, then:
Answer- (c) The U.S. dollar will depreciate.
Q- 5) The New Deal was dealt a blow by the Supreme Court when it ruled as unconstitutional:
Answer- (b) Wheat allotment codes.
Q- 6) The NRA lasted until May of 1935 because:
Answer- (d) The Supreme Court ruled it unconstitutional.
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