Under the Bretton Woods system, participating countries
A) pegged their currencies to the U.S. dollar.
B) maintained a fixed exchange rate with gold.
C) allowed their currencies to float freely.
D) pegged their values to the British pound.
A
You might also like to view...
If the price of propane-fueled gas grills was to decrease, then
A) the quantity of propane demanded would decrease. B) the demand for propane would increase. C) the quantity of propane demanded would increase. D) the demand for propane would decrease.
Normative economics is
a. an event is explained according to the laws of economics. b. an explanation of the way things ought to be, the explanation involves a value judgement on the part of someone. c. the study of foreign countries. d. the study of our banking system.
One group of people uses New York City subways only during rush hour to travel to and from work. Another group uses them only in midday for leisure activity. If New York City wants to increase transit fares with the smallest possible reduction in revenue, for which group should it increase the fare?
a. The rush-hour group because its demand for subway service is more elastic than that of the midday group. b. The rush-hour group because its demand for subway service is less elastic than that of the midday group. c. The midday group because its demand for subway service is more elastic than that of the rush-hour group. d. The midday group because its demand for subway service is less elastic than that of the rush-hour group. e. It doesn't matter because both groups have the same elasticity of demand.
Suppose an excise tax is imposed on product X. We would expect this tax to:
A. decrease the demands for both complementary good Y and substitute product Z. B. increase the demands for both complementary good Y and substitute product Z. C. increase the demand for complementary good Y and decrease the demand for substitute product Z. D. decrease the demand for complementary good Y and increase the demand for substitute product Z.