That the Balance of Payments Could Be Adjusted by Prices

question 105

True/False

That the balance of payments could be adjusted by prices and interest rates,under a fixed exchange rate system,originated with Keynesian theory during the 1930s.

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Definitions:

Escaped from Elba

Refers to Napoleon Bonaparte's 1815 escape from the island of Elba, where he was exiled, leading to his brief return to power in France.

Violent Coup

An abrupt and illegal seizure of government power from the current authorities, often involving the use of force or threat of force.

Authorities

Individuals or organizations that have the legal power and right to enforce laws, command obedience, or make decisions.

Bourbon King

Refer to the dynasty that ruled France, and other countries at times, from the late 16th century until the French Revolution.