When wages are said to be sticky, it implies that（）
A. they do not adjust to market changes quickly
B. they are fixed
C. the government has minimum wage laws in place
D. none of the above; only prices are said to be sticky
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One disadvantage of gold as the basis for a currency is（）
A. gold is difficult to transport in large quantities
B. a new discovery of gold could quickly change the value of the currency
C. a gold standard can be costly to maintain if the currency comes under speculation
D. all of the above
Exchange rate overshooting explains（）
A. why spot rates are so much more variable than price levels
B. why price levels change so frequently in one country and not in another
C. the policy assignment problem
D. domestic currency appreciation
Under the Bretton Woods system, participating countries（）
A. pegged their currencies to the U.S. dollar
B. maintained a fixed exchange rate with gold
C. allowed their currencies to float freely
D. pegged their values to the British pound
Which of the following is the best definition of monetary order（）
A. a set of laws that establishes the framework for the economy to settle and conduct transactions
B. a set of rules for how money will be printed and counted within an economy
C. the policies that govern what will be considered money in an economy
D. the policies that establish the exchange rate system in an economy
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