As a result of Bretton Woods and the resulting dollar's use as a proxy for gold, the U.S. ran up a balance of payments deficit of around $56 billion, which led to the U.S. going off the gold exchange standard in 1971.
Answer the following statement true (T) or false (F)
True
This is exactly what happened. Eventually, any currency that is used in this role will encounter excess external demand and lead to a deficit.
You might also like to view...
Which of the following classifications of marketing research involves going below the surface to identify the true underlying problem that the marketing manager is facing?
A) problem-solving B) problem-manipulation C) problem-correction D) problem-identification E) problem exception
If the contribution margin on a new product line is $15, fixed costs are $165,000, and the total market for the product is 22,000 units, then the breakeven analysis would recommend that the company
A) abandon the new product line. B) decrease the sales price per unit. C) increase fixed costs (such as advertising) to lower the breakeven units. D) adopt the new product line.
Broham Manufacturing Company purchased a machine on January 2, 2014 . The invoice price of the machine was $40,000, and the vendor offered a 2 percent discount for payment within ten days. The following additional costs were incurred in connection with the machine: Transportation-in .................................... $1,200 Installation cost .................................... 700 Testing
costs prior to regular operation ............. 550 If the invoice is paid within the discount period, Broham should record the acquisition cost of the machine at a. $41,650. b. $41,100. c. $40,400. d. $39,200.
All organizations, to ensure long-term survival, should be _______________
A. attempting to change in the same direction B. be nimble and flexible C. a culture of continuous change D. all of these