Which of the two features of the IMF Articles of Agreement helped promote flexibility in external adjustment?
A) IMF members helped countries maintain full employment.
B) IMF allowed countries to attain internal balance.
C) New countries would enter the agreement if they fixed their exchange rate.
D) IMF members contributed their currency to form a pool of resources that IMF could lend to countries in need and parities in the exchange rate against the dollar could be adjusted with agreement of IMF.
E) IMF members argued against the use of floating exchange rates.
D
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A firm faces competitive markets for its inputs and its output. Its marginal revenue product of labor
A) is increasing in the output price. B) is decreasing in the output price. C) is independent of the output price. D) has an inverted U-shape.
You may incorrectly conclude that an idea no other person has implemented is highly profitable because:
A. you misjudged people's wants and constraints. B. you miscalculated the trade-offs people face. C. you misunderstood how people would respond to incentives. D. All of these.
The change in a firm's total revenue due to selling an additional unit of output is known as
a. marginal revenue b. average revenue c. price d. marginal cost e. marginal revenue product
The primary economic function of the financial system is to
a. keep interest rates low. b. provide expert advice to savers and investors. c. match one person's consumption expenditures with another person's capital expenditures. d. match one person's saving with another person's investment.