Under the Bretton Woods system, devaluation was
A. normal.
B. routine.
C. rare.
D. a last resort.
Answer: D
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Suppose Sarah owns a small company that makes wedding cakes. The table below shows how Sarah's total cost varies depending on the number of wedding cakes she makes each day.Number ofCakes Per DayTotal CostPer Day0$1001$1802$2203$3004$4005$5206$660If the market for wedding cakes is perfectly competitive, and wedding cakes sell for $125 each, then at her profit-maximizing level of output, Sarah's profit will be ________ per day.
A. $90 B. $625 C. $105 D. $100
Privatizing a commons gives the person who owns it an incentive to
A) exploit the resource until it is depleted. B) restrict it from being used at all. C) manage it carefully. D) make it available to everyone without restriction.
In the above figure, suppose the economy is initially at point a. If the nominal interest rate increases, there is a movement to point such as
A) b. B) c. C) d. D) e.
Provide a description of the TIT FOR TAT strategy. Give a brief explanation of the importance of TIT FOR TAT strategy in Robert Axelrod's computer tournaments and the implications of his results for public policy
What will be an ideal response?