The International Monetary Fund was founded
a. in Paris in 1938
b. in New York in 1961
c. in Washington in 1971
d. in New York in 1991
e. in Bretton Woods in 1944
E
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As a result of trade between two countries which are of completely different economic sizes, specialization in the Ricardian 2X2 model tends to
A) be incomplete in both countries. B) be complete in both countries. C) be complete in the small country but incomplete in the large country. D) be complete in the large country but incomplete in the small country. E) sustain one countries economy in in direct proportion to the other.
The expenditure components of GDP include all of the following except
A) consumption. B) investment. C) net exports. D) net factor payments.
When there is no market for a negative externality, the producer of the externality _____
a. has strong incentive to consider the costs it imposes on others b. will try to create a market c. will limit production of the good producing the externality d. has no incentive to consider the costs it imposes on others
In a game of bargaining, the player who is willing to:
A. be cooperative has more bargaining power and so receives a worse payoff. B. hold out longer has more bargaining power and so receives a worse payoff. C. hold out longer has more bargaining power and so receives a better payoff. D. make the first move has more bargaining power and so receives a better payoff.