The International Monetary Fund was created
A) in 1945 by the Bretton Woods Agreement.
B) to collect money from member countries that were running balance of payments deficits.
C) in 1971 when President Richard Nixon signed the Bretton Woods Agreement.
D) in the aftermath of World War II to help nations move off of the gold standard.
Answer: A
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Which of the following would likely result in a shift of the aggregate demand curve to the right?
A) a rise in the real interest rate B) a decrease in the quantity of money in circulation C) a decrease in job security D) a tax cut
Suppose that when the price of ice cream increases, Liza decreases her purchase of hot fudge. To Liza
A) ice cream is a normal good and hot fudge is an inferior good. B) ice cream and hot fudge and substitutes. C) ice cream and hot fudge are normal goods. D) ice cream and hot fudge are complements.
When conducting open market operations, at what price is it willing to buy or sell securities?
A) at the price agreed upon by the Federal Open Market Committee B) at the price agreed upon by the Board of Governors C) at the price set by the Fed chair D) at whatever price is necessary to carry out its open market operations
Models must
A) be able to yield useable predictions. B) be totally realistic in every detail. C) be a complete reproduction of the real world. D) include every relationship that exists.