The London gold fixing is an example of a(n)
A) dealer market.
B) Walrasian auction market.
C) brokered market.
D) secondary market.
B
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The promise that was to hold the Bretton Woods system together was the agreement that
A) no industrial country would allow high rates of inflation. B) foreign central banks would be able to convert U.S. dollars into gold at a fixed price. C) no country would raise tariffs on the products of other countries. D) all countries would be willing to redeem their paper currencies for gold.
If a corporation were forced to absorb the cost of a spillover from the production of a good, this would likely cause the supply curve for the good to
A) shift out. B) shift to the left. C) shift to the right. D) None of the above are correct.
By definition, a government-sponsored good
A) is a good that is deemed socially desirable. B) is a good that should be available only to upper-income groups. C) is always provided at a zero price. D) does not affect society's general welfare.
The most common form of business organization, as far as the number of such firms in business, is the
A) proprietorship. B) partnership. C) corporation. D) S corporation.