The gold standard
a. has been in operation since the establishment of the Federal Reserve Board
b. has been in operation since shortly after World War I
c. has been in operation since the Bretton Woods agreement was signed
d. was in operation for about 50 years before World War I
e. was in operation from the date of the Bretton Woods agreement until the devaluation of the U.S. dollar in 1971
D
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Which of the following statements is correct?
A) The price level does not affect the level of real GDP demanded. B) The lower the price level, the more the aggregate demand curve shifts rightward. C) The lower the price level, the greater the quantity of real GDP demanded. D) The higher the price level, the more the aggregate demand curve shifts rightward. E) The lower the price level, the more the aggregate demand curve shifts leftward.
What are economies of scale? What is the main source of economies of scale?
What will be an ideal response?
Indirectly, overvalued exchange rates in Latin America caused
A) a capital shortage in agriculture. B) a capital shortage in industry. C) a capital abundance in agriculture. D) a growth in incomes in rural areas. E) an increase in competitive pressures faced by industry.
From an economist's point of view, zero pollution is always preferable to some pollution.
Answer the following statement true (T) or false (F)