A worldwide system of fixed exchange rates was organized and maintained under the International Monetary Fund
A) in the three decades before World War I.
B) in the years between the world wars.
C) from the end of World War II until the early 1970s.
D) from the early 1960s to the late 1980s.
C
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What is the Coase theorem
What will be an ideal response?
In a market with positive externalities
A) the efficient level of production is less than what competition will obtain. B) the efficient level of production is equal to what competition will obtain. C) the efficient level of production is more than what competition will obtain. D) there cannot be an efficient level of production.
Behavioral economists:
A. rely primarily on data drawn from the real world. B. typically assume that each individual has well-defined objectives, that there is a connection between an individual's objectives and actions and that the actions chosen affect an individual's well-being. C. avoid mathematical models of behavior, as they do not adequately describe real world actions. D. typically assume that each individual has well-defined objectives and avoid mathematical models of behavior, as they do not adequately describe real world actions.
In the short run, perfectly competitive firms can
A. make an economic profit. B. take a loss. C. break even. D. All of the responses are correct.