The legally established value of a country's monetary unit in terms of another under the Bretton Woods system was called the
A. par value.
B. dirty float.
C. exchange rate.
D. special draw.
Answer: A
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Refer to Table 5.3. The expected returns are highest for the physician who
A) works for an HMO. B) opens her own practice. C) does research. D) either opens her own practice or does research. E) either works for an HMO or does research.
Which term describes the phases of expansion and contraction in an economy over time?
A. Recessions B. Prosperity C. Total product oscillations D. Business cycles
Refer to Figure 35.4 for the production possibilities curve for Chile: Chile's production and consumption of wine and wheat without trade are represented by point A. Suppose that Chile has a comparative advantage in the production of wine compared to the United States and specialization and trade take place between the two countries. The most likely new combination of wine and wheat available to Chile would be
A. D. B. A. C. C. D. B.
Protecting endangered species is not an example of a public good because there are no external benefits associated with it.
Answer the following statement true (T) or false (F)