Under the Bretton Woods system, an asymmetry in the ability of central banks to defend their exchange rates existed because
A) a country experiencing a balance of payments surplus was limited in its ability to defend its exchange rate by its stock of international reserves.
B) a country experiencing a balance of payments deficit was limited in its ability to defend its exchange rate by its stock of international reserves.
C) central banks were allowed by the IMF to adjust their exchange rates upward whenever they chose, but were rarely allowed to adjust their exchange rates downward.
D) central banks were allowed by the IMF to adjust their exchange rates downward whenever they chose, but were rarely allowed to adjust their exchange rates upward.
B
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The bargaining power of suppliers increases if
A) the input supplied is relatively standardized. B) the input in question is not a critical component of production. C) the cost of switching suppliers is relatively low. D) there are only a few competitors to the supplier.
Between 1820 and 1860, in the U.S.,
a. real wages rose. b. unskilled workers' earnings fell relative to skilled workers' earnings. c. fertility rates fell. d. the number of self-employed workers fell. e. All of the above.
The price index that measures the prices of goods and services purchased by firms is called the:
A. PPI. B. CPI. C. RPI. D. PRI.
World Bank funds are largely acquired through interest earned on the deposits of member nations
a. True b. False Indicate whether the statement is true or false