The International Monetary System was established
A) by the United Nations.
B) by the Bretton Woods Agreement.
C) by the United States, in cooperation with Great Britain.
D) during the Great Depression by the League of Nations.
B
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Prior to the 1930s, the majority of dollars spent by government was spent at the state and local levels
Indicate whether the statement is true or false
The long-run aggregate supply curve shows the output level that an economy can produce when:
A. firms adjust quantity rather than price. B. both capital and labor are fully employed. C. capital is fully employed. D. labor is fully employed.
Which of the following macroeconomic variables would you exclude from an index of leading economic indicators?
A. Inventory investment B. Money supply C. Industrial production D. Residential investment
Refer to Table 2-11. What is South Korea's opportunity cost of producing one pound of wheat?
A) 60 digital cameras B) 20 digital cameras C) 5 digital cameras D) 0.05 units of a digital camera