The Bretton Woods system was established in 1944 and remained in place until the early 1970s
Indicate whether the statement is true or false
TRUE
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If lenders refuse to state the debt in terms of dollars, then dollars are not a
A) medium of exchange. B) unit of accounting. C) store of value. D) standard of deferred payment.
The long-run aggregate supply curve is vertical
Indicate whether the statement is true or false
Measuring the size of future government deficits is complicated by all of the following except uncertainty about
a. liabilities for future entitlements. b. future economic growth. c. future inflation. d. the future assets of the U.S. government.
Suppose that Janis is maximizing her total utility from chairs and tables. If the marginal utility of the last table she purchased is 200 utils, and the prices of chairs and tables are $50 and $100, respectively, then the marginal utility of the last chair she purchased
a. is 100 utils b. is 400 utils c. is 200 utils d. is 50 utils e. cannot be determined without more information