Under the Bretton Woods agreements,
A. the IMF was created to punish countries that did not maintain fixed exchange rates.
B. a system of fixed exchange rates based on gold was established.
C. each country agreed to buy and sell its currency to maintain a fixed exchange rate.
D. All of the above are correct.
Answer: C
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Which of the following is not a way by which price-discriminating firms can segment a market?
A) on the basis of the supplier's marginal cost of production, for example requiring customers to pay a premium for customizing options B) on basis of the buyer's location, for example requiring out-of-state students to pay higher tuition C) on the basis of time of purchase, for example long-distance calling D) by requiring an advance purchase, for example airline tickets
Which of the following statements is true?
a. A less developed country (LDC) is a country with a low GDP per capita, low levels of capital, and uneducated workers. b. The vicious circle of poverty exists because GDP must rise before people can save and invest. c. LDCs are characterized by rapid population growth and low levels of investment in human capital. d. All of these.
When GDP is measured in "current prices" it is known as the:
A. real GDP. B. nominal GDP. C. real GNP. D. nominal GNP.
The "real" price of a good is known as
A) the absolute price of the good. B) the dollar price of the good since we use dollars in the United States. C) relative price of the good. D) the price actually paid for a good instead of the sticker price.