The International Monetary Fund's primary role under the Bretton Woods System was to be:
A. the issuer of gold.
B. a short-term lender for countries with an excess of imports over exports.
C. the clearinghouse for international transactions.
D. the arbiter of trade disputes.
Answer: B
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In 2012, which of the following countries had the highest share of consumption spending in GDP?
A) the United States B) France C) Germany D) China
What is meant by the term "internalizing an externality"? How does a Pigovian tax or subsidy internalize an externality?
What will be an ideal response?
Which one of the following is not a mixed economy?
A. United States B. China C. Japan D. All of the countries listed are mixed economies.
Which of the following has not been a facilitating factor in world trade?
A. Dramatic improvements in communications technology. B. General declines in tariffs. C. Import quotas. D. Improvements in transportation technology.