Which of the following was NOT a creation of the Bretton Woods conference?
A) World Bank
B) IMF
C) IBRD
D) WTO
E) None of the above.
D
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Imagine that the U.S. economy is in equilibrium at full employment without inflation where national income is at $6,700 billion. The MPC = 0.8 . If massive flooding along the Mississippi River leads Congress to approve a spending package of $10 billion to aid flood victims, the government must also take which of the following actions to keep the economy in equilibrium at full employment without
inflation? a. increase taxes by $10 billion b. decrease taxes by $10 billion c. increase taxes by more than $10 billion d. decrease taxes by more than $10 billion e. increase taxes by less than $10 billion
Which of the following represents the key difference between the short run and the long run?
a. In the short run at least one of the firm's resources is fixed, while in the long run all resources under the firm's control are variable. b. The short run corresponds to the anticipated remaining life span of the owner/entrepreneur. c. In the long run at least one of the firm's resources is fixed, while in the short run all resources under the firm's control are variable. d. In the long run at least one of the firm's resources is fixed, while in the short run all resources under the firm's control are fixed.
Which of the following is a TRUE statement?
A. Consumers benefit from trade and producers do not. B. Everyone benefits from free trade. C. Exporters benefit from trade and importers do not. D. Free trade harms domestic producers of goods that face import competition.
An unsecured loan is:
A. a loan where the applicant does not post any collateral. B. usually a low-risk loan. C. a loan where the applicant does not have any net worth. D. another name for a mortgage loan.