The Bretton Woods system
a. established fixed par values for currencies in terms of gold.
b. was to be a system of adjustable pegs to the dollar.
c. expected countries with persistent surpluses to devalue their currencies.
d. was after the Great Depression in order to end the downturn.
B
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Ruben earned a salary of $60,000 in 2001 and $80,000 in 2006 . The consumer price index was 177 in 2001 and 221.25 in 2006 . Ruben's 2001 salary in 2006 dollars is
a. $75,000; thus, Ruben's purchasing power increased between 2001 and 2006. b. $75,000; thus, Ruben's purchasing power decreased between 2001 and 2006. c. $85,000; thus, Ruben's purchasing power increased between 2001 and 2006. d. $85,000; thus, Ruben's purchasing power decreased between 2001 and 2006.
In real business cycle theory, business cycle expansions begin as a result of changes in
A) GDP. B) long-run aggregate supply. C) aggregate demand. D) consumption. E) investment demand.
Innovations in the United States, such as credit cards, debit cards, ATM:s, and online-banking have:
A. decreased the demand for money. B. had no impact on the supply or demand for money. C. increased the supply of money. D. increased the demand for money.
Recall the Application about incentives to immunize children in developing countries to answer the following question(s). According to this Application, which of the following were given to parents who immunized their children?
A. dal (a common Indian food) B. a set of cooking pans C. rupees D. both dal (a common Indian food) and a set of cooking pans