The Bretton Woods conference set up the ______ to supervise a system of ______ exchange rates.
Fill in the blank(s) with the appropriate word(s).
International Monetary Fund (IMF); fixed
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In terms of Social Security taxes, the self-employed pay
A. only the employee portion. B. both the employee and employer portions. C. only the employer portion. D. no tax.
Which of the following statements is not true?
a. Price elasticity of demand for basic foods is low. b. When price elasticity of demand is very high, we say there is brand loyalty. c. The availability and price of substitutes affect the elasticity of demand for a good or service. d. When goods have very low prices, the elasticity of demand is usually quite low. e. Elasticities increase as the price of the good increases.
Five hundred units of good x are currently bought and sold. The marginal buyer is willing to pay $40 for the 500th unit, and the cost to the marginal seller is $35 for the 500th unit. We know that
a. the equilibrium price of good x is somewhere between $35 and $40. b. the equilibrium quantity of good x exceeds 500 units. c. 500 units is not an efficient quantity of good x. d. All of the above are correct.
When nations desire a healthy macroeconomy, they typically focus on several goals:. Three are:
What will be an ideal response?