Under the Bretton Woods agreements,
a. the IMF was created to punish countries that did not maintain fixed exchange rates.
b. a system of fixed exchange rates based on gold was established.
c. each country agreed to buy and sell its currency to maintain a fixed exchange rate.
d. All of the above are correct.
c
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You share a room in a large apartment complex with three other students, and you want to have an end-of-semester party that may become very noisy
Your lease clearly states that you are not to disturb the other residents, but you believe the Coase Theorem implies that you should be able to bargain with your neighbors and reach an agreement on hosting the party. However, you are wrong and bargaining is unlikely to achieve an efficient outcome. Which condition of the Coase Theorem is not met in your situation? A) Property rights are not clearly assigned. B) The costs of bargaining are too high. C) You must have the property right to host noisy parties for the Coase Theorem to work in this case. D) All of the Coase Theorem conditions are met.
________ can force a competitor to stop false advertising.
A) The Federal Trade Commission's (FTC), but not the Lanham Act B) The Lanham Act, but not the Federal Trade Commission's (FTC) C) Neither the Federal Trade Commission's (FTC) nor the Lanham Act D) Both the Federal Trade Commission's (FTC) and the Lanham Act
The highest-income fifth of the U.S. population earns more than 50 percent of all income
a. True b. False Indicate whether the statement is true or false
In a market economy with no government intervention, the HOW to produce question is based on
A. Production costs plus environmental considerations. B. Production costs alone. C. Environmental considerations only. D. Consumer demand.