A two-tier gold market like the one created during the Bretton Woods System refers to
A) a private tier for private gold traders where the price would not be allowed to fluctuate, and an official tier for central banks where the official gold price would be allowed to fluctuate.
B) a private tier for private gold traders where the price would not be allowed to fluctuate, and an official tier for central banks where the official gold price would rise on a yearly basis by pre-determined increments.
C) a private tier for private gold traders where the price would be allowed to fluctuate, and an official tier for central banks where the official gold price would be set at $35 an ounce.
D) a private tier for private gold traders where the price would be set at $35 an ounce, and an official tier for central banks where the official gold price would be allowed to fluctuate.
E) a private tier for private gold traders where the price of gold would rise on a yearly basis by pre-determined increments, and an official tier for central banks where the official gold price would be set at $35 an ounce.
C
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Other things being equal, a higher saving rate
A) means higher standards of living today. B) is associated with a decline in the rate of growth of the population. C) means higher standards of living in the future. D) leads to higher interest rates.
Assume that any given percentage of the population earns an equal percentage of real GDP. This percentage of population will be represented by:
a. a point below the line of income equality. b. a line lying below the line of income equality. c. a point on the line of income equality. d. a line lying above the line of income equality. e. a point above the line of income equality.
In a corporation, one important source of value is that the "whole organization" is worth more than the sum of its parts. This is called
A. substitute goods value creation. B. complementary goods value creation. C. team production capabilities. D. collective cost analysis benefits.
Refer to the information provided in Table 13.1 below to answer the question(s) that follow. Table 13.1Price ($)Quantity4.002,0003.502,4003.002,8002.503,2002.003,6001.504,0001.004,400Refer to Table 13.1. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $1 per unit of providing the product, what price should it charge per unit of output so as to maximize its profits?
A. $4.00 B. $3.50 C. $3.00 D. $2.50