The gold standard dominated exchange rate systems during what period?
A) from 1776 to 1816
B) from 1836 to 1849
C) from 1870 to 1913
D) from 1945 to 1965
Ans: C) from 1870 to 1913
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For a syrup producer in central Vermont, profit is maximized at the level of output for which total
A) revenue exceeds total cost by the largest amount. B) revenue exceeds total cost by the smallest amount. C) revenue is maximized. D) cost is minimized. E) revenue equals total cost.
When the price of the same product varies by locational attributes, it is an example of:
A) predatory pricing. B) first-degree price discrimination. C) second-degree price discrimination. D) third-degree price discrimination.
Strikes are expensive for
a. workers only because their income falls b. employers only because their revenue falls c. the public only because output falls d. both the public and employers because workers are compensated by the union for lost income e. workers, employers, and the public
Luther’s family earns $100,000 per year. Based on the table showing income distribution in the United States in 2017, they are in the ______.
a. bottom fifth
b. second fifth
c. fourth fifth
d. top fifth