A persistent shortage or surplus of a currency under the Bretton Woods system was evidence of
A) failure to support the existing fixed exchange rate by central banks.
B) speculation against the currency by speculators in world exchange markets.
C) fundamental disequilibrium in the country's exchange rate.
D) all of the above
C
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Arnie Ziffel has $20 per week to spend on any combination of pineapples and green tea. The price of a pineapple is $4 and the price of a bottle of green tea is $2. The table below shows Arnie's utility values
Use the table to answer the questions that follow the table Quantity of Pineapples Total Utility Marginal Utility Marginal Utility per Dollar Quantity of Green Tea Total Utility Marginal Utility Marginal Utility per Dollar 1 32 1 28 2 52 2 46 3 64 3 54 4 68 4 60 5 70 5 64 6 71 6 66 7 71 7 67 a. Complete the table by filling in the blank spaces. b. Suppose Arnold purchases 4 pineapples and 2 bottles of green tea. Is he consuming the optimal consumption bundle? If so, explain why. If not, what combination should he buy and why?
In the above figure, a movement from point B to point C could be explained by
A) an increase in the price level. B) a decrease in the quantity of money in circulation. C) increased government spending. D) the real-balance effect.
When a firm doubles its inputs, its output:
A. will double. B. will less than double. C. will more than double. D. All of these are possible.
Villagers in Xiaogang, China, produced more rice than those in surrounding villages because:
a. they had better farmland. b. they were given better seeds. c. they were able to keep the output they produced individually. d. they made each family responsible for a certain, higher quota of rice production. e. they had common ownership over the rice produced.