The International Monetary Fund was created as a part of:
A. the Bretton Woods System.
B. the United Nations.
C. the European Monetary Union.
D. the Federal Reserve System.
Answer: A
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You operate a factory that produces beach towels. Your current level of output equals 2,000 towels per week. Your weekly variable cost equals $8,000 . If your total cost each week equals $9,000 . it follows that:
a. the average variable cost of production equals $2 per towel. b. the average total cost of production equals $4 per towel. c. the average total cost of production equals $4.50 per towel. d. the average total cost of production equals $8 per towel.
If the Fed's policy reaction function equals r = .02 + ?, where r is the real interest rate and ? is the inflation rate. When the inflation rate is at the current target of 2 percent, then the real interest rate will be set at:
A. zero. B. 6 percent. C. 2 percent. D. 4 percent.
GDP as a measure of the nation's economic performance
A. includes the value of final goods and services produced in the economy. B. excludes nonmarket transactions. C. excludes the value of intermediate goods. D. excludes the sale of secondhand goods.
Use the following table to answer the question below.Jake's Production Possibilities ScheduleJane's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn01600801012020602080404030406020400800Jake should specialize in the production of which good?
A. corn B. green beans C. both D. neither