After World War II, many currencies were:
A) losing value because of the war's devastation.
B) still on the gold standard.
C) suffering from high inflation.
D) pegged to the U.S. dollar.
Ans: D) pegged to the U.S. dollar.
You might also like to view...
An important reason why economies at an early stage of development tend to operate inefficiently is
A) they tend to be dominated by the agricultural sector, where productivity is usually low. B) they tend to have authoritarian governments that stifle innovation. C) they tend to be plagued by superstitious beliefs that stifle innovation. D) the high transactions costs associated with barter.
For every firm that faces a downward-sloping demand curve for its output,
a. marginal cost exceeds marginal revenue at all output levels b. marginal revenue equals the price of the last unit sold c. marginal revenue is less than the price of the last unit sold d. marginal revenue exceeds the price of the last unit sold e. marginal cost exceeds the price of the last unit sold
Which of the following is consistent with the law of demand?
A) People substitute higher-priced goods for higher-quality goods. B) People substitute some higher-priced goods for other higher-priced goods. C) People substitute lower-priced goods for higher-priced goods. D) People substitute some lower-priced goods for other lower-priced goods.
Which of the following statements about U.S. trading partners is true?
a. The top trading partners are Canada, Mexico, China, and Japan. b. The historical reliance on trade with Europe has not changed. c. The United States trades almost exclusively with Asian countries. d. The top trading partners are Russia, Cuba, and the two Koreas.