The International Monetary Fund was created
A) in 1945 by the Bretton Woods Agreement.
B) to collect money from member countries that were running balance of payments deficits.
C) in 1971 when President Richard Nixon signed the Bretton Woods Agreement.
D) in the aftermath of World War II to help nations move off of the gold standard.
A
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Suppose Hanna spends her entire budget buying bagels and cups of coffee each day. Also, suppose the marginal utility of her last bagel is 100 and the marginal utility of her last cup of coffee is 200
If the price of a bagel is $4 and the price of a cup of coffee is $2, then A) Hanna needs to decrease her consumption of bagels to maximize her utility. B) Hanna needs to increase her consumption of bagels to maximize her utility. C) Hanna should buy half as many bagels as coffee in order to maximize her utility. D) bagels must provide more total utility than coffee.
Scenario 4.5 indicates that grilled cheese sandwiches and hamburgers are:
A) substitutes. B) complements. C) independent goods. D) none of the above
As a manager of an industrywide trade organization, your decisions regarding industrywide advertising are ________ if the participating firms' marginal benefits are similar as there will be ________ disagreement among the firms regarding the amount of the industrywide advertising.
A) easier; less B) harder; less C) easier; more D) harder; more