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Author Question: When most shocks originate in the monetary sector, it is generally better to have A) a flexible ... (Read 100 times)

acc299

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on: Jun 30, 2018
When most shocks originate in the monetary sector, it is generally better to have
 
  A) a flexible rate system.
  B) a fixed rate system.
  C) a gold standard.
  D) a managed float.

Question 2

Why did Adam Smith criticize the trade barriers imposed by the mercantilists?
 
  What will be an ideal response?


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nyrave

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

Smith was highly critical of trade barriers because they decrease specialization, technological progress, and wealth creation. He also recognized that imports enable a country to obtain goods that it cannot make or cannot make as cheaply, while exports are made for someone else and are useful only if they lead to imports.


acc299

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Reply 2 on: Jun 30, 2018
Gracias!

nguyenhoanhat

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Reply 3 on: Yesterday
Excellent

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