What did the Bretton Woods Agreement do?
What will be an ideal response?
Answer:
it created the international monetary fund and the world bank
it let governments have more flexibility
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Given the total cost and total revenue curves in the figure above, what is the profit-maximizing output level?
A) 30,000 bushels B) 60,000 bushels C) 80,000 bushels D) All output levels occur between 30,000 and 80,000 bushels are profit-maximizing output levels.
Recall the Application about how the price of CO2 permits in the European Union is determined to answer the following question(s).Recall the Application. Which of the following factors has caused the decline in the price of CO2 allowances in the EU in 2011?
A. Industrial output increased. B. The number of renewable energy sources increased. C. The number of energy efficient appliances increased. D. All of these are correct.
In 2010, a British Petroleum oil rig exploded in the Gulf of Mexico. The explosion resulted in a major oil spill and a decrease in the supply of oil. At the same time, the average price of gasoline decreased. Which of the following best explains the
decrease in the price of gasoline? A) The quantity demanded of gasoline increased. B) The demand for gasoline decreased, and the effect of the decrease in demand on the gasoline price was greater than the price effect of the decrease in supply. C) The demand for gasoline increased, and the effect of the increase in demand on the gasoline price was less than the price effect of the decrease in supply. D) The demand for gasoline remained unchanged.
Consider Figure 12.3. Choosing a low price is:
A. a dominant strategy for David but not for Becky. B. a dominant strategy for Becky but not for David. C. a dominant strategy for both David and Becky. D. not a dominant strategy for either David or Becky.