At the Bretton Woods conference, all currencies were given
A. a fixed value.
B. a floating value.
C. a zero value.
D. a par value.
Answer: D
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For a monopsony, the labor supply curve is
A) above the MCL curve. B) always below the VMP curve. C) downward sloping. D) upward sloping.
Currently, the national debt is approximately:
a. 10 percent of GDP. b. 60 percent of GDP. c. 80 percent of GDP. d. 120 percent of GDP.
Arrange the following topics into lists of microeconomic and macroeconomic topics: - wages of textile workers - cost of producing 10,000 bookcases - the economy's annual growth rate - national demand for fish - the unemployment rate - the gold futures market - money supply - projected inflation rate next year
A. Microeconomics: wages of textile workers, the unemployment rate, cost of producing 10,000 bookcases, the gold futures marketMacroeconomics: the economy's annual growth rate, money supply, national demand for fish, projected inflation rate next year B. Microeconomics: wages of textile workers, cost of producing 10,000 bookcases, the economy's annual growth rate, unemployment rateMacroeconomics: national demand for fish, the gold futures market, money supply, projected inflation rate next year C. Microeconomics: wages of textile workers, cost of producing 10,000 bookcases, the gold futures market, national demand for fishMacroeconomics: the economy's annual growth rate, the unemployment rate, money supply, projected inflation rate next year D. Microeconomics: the economy's annual growth rate, the unemployment rate, money supply, projected inflation rate next yearMacroeconomics: wages of textile workers, cost of producing 10,000 bookcases, the gold futures market, national demand for fish
All industrialized countries have become “service economies.” Which factor helps explain this shift?
A. Trade unionism and failure of the manufacturing sector to grow B. Information age and laborsaving innovation in manufacturing C. The decline in the number of workers possessing the required skills for industrial production D. The lack of competition in the service sector