The Bretton Woods agreement created the ________, which was given the task of promoting the growth of world trade by setting rules for the maintenance of fixed exchange rates and by making loans to countries that were experiencing balance of payments
difficulties. A) IMF
B) World Bank
C) Central Settlements Bank
D) Bank of International Settlements
A
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A contractionary monetary policy raises the real interest rate, causing the domestic currency to ________, thereby ________ net exports
A) appreciate; raising B) appreciate; lowering C) depreciate; raising D) depreciate; lowering
Rahul has a concave utility function. Therefore, if there are two choices he will pick the ________ if ________ expected value
A) fair bet; both have the same B) less risky choice;both have the same C) more risky choice; both have the same D) less risky choice; it has a lower
A medium of exchange is
A) any asset that sellers will accept as payment. B) a measure by which prices are expressed. C) an asset that is used to settle future debts. D) the thing traded when barter takes place.
A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.