With the Bretton Woods system of international exchange rates
A) the value of a country's currency was determined strictly by the laws of supply and demand.
B) the value of a country's currency was determined by its stock of gold.
C) there were fixed exchange rates, and most countries were obligated to intervene to maintain the values of their currencies within 1 percent of par value.
D) a nation's balance of payments was eliminated.
C
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Land can be used to grow commercial Christmas trees or pulpwood. Which is the more "economically efficient" use of the land?
A) Raising commercial Christmas trees B) Raising pulpwood C) Raising a mixed combination of commercial Christmas trees and pulpwood D) It depends in part on the relative prices of Christmas trees and pulpwood.
A pharmaceutical company faces a price regulation where it cannot charge any higher than $5,000 for a lifesaving drug. The company knows that the patients put a high value on this product and are willing to pay up to $10,000 for it. The company will likely
a. Not do anything-it is prohibited by law to increase its price b. Bundle the drug with periodic blood testing, selling the bundle for $10,000 c. Require that the patients have the drug administered by the company's medical staff, for an additional $5,000 d. Both B&C
Which of the following statements best describes the outcomes of protectionism for infant industries?
a. Protectionism for infant industries never imposes costs on domestic users of the product but typically has provided little benefit in the form of stronger, competitive industries. b. Protectionism for infant industries always imposes costs on domestic users of the product and typically has provided little benefit in the form of stronger, competitive industries. c. Protectionism for infant industries never imposes costs on domestic users of the product and typically has provided much benefit in the form of stronger, competitive industries. d. Protectionism for infant industries always imposes costs on domestic users of the product but typically has provided much benefit in the form of stronger, competitive industries.
Which of the following occurs when an employer refuses to hire a qualified individual due to the job applicant’s race, gender, or religion?
a. Discrimination b. Cognitive bias c. Affirmative action d. Racial profiling