Under a Fixed Exchange System with a Flexible Price Level,balance

question 3

Multiple Choice

Under a fixed exchange system with a flexible price level,balance of payments equilibrium will occur

• A)only through a devaluation.
• B)automatically,in the long-run.
• C)only with an activist monetary policy.
• D)only with a revaluation.

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Definitions:

Fixed-ratio Schedule

A reinforcement schedule in operant conditioning where a response is rewarded only after a specified number of responses, promoting a high and steady response rate.

Variable-interval Schedule

A reinforcement schedule in which a response is rewarded after an unpredictable amount of time has passed, which is used in operant conditioning.

Individual Webpage

A single, unique HTML document on the World Wide Web that can provide content about a person, topic, or organization.

Successive Approximations

A method used in behavior therapy where desirable behaviors are rewarded in stages that progressively get closer to the goal behavior.