nder the Bretton Woods system, ______.
a. governments maintained stable exchange rates by buying or selling currencies or reserves
b. exchange rates were very flexible and experienced little government intervention
c. governments allowed exchange rates to fluctuate freely
d. market forces totally determined exchange rates
a. governments maintained stable exchange rates by buying or selling currencies or reserves
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Referring to a production possibilities curve and the goods being compared, depict the economic event. The economy moves from full employment to a serious recession (capital goods vs. consumer goods).
A. A movement from a point inside the curve to a point on the curve B. A movement from a point on the curve to a point inside the curve C. A shift in the entire curve to the right (outward) D. A shift in the entire curve to the left (inward) E. A movement along the curve
A goal of market-based reforms of the health care system is to give patients an incentive to pay more attention to the prices of medical services. This would tend to ________ economic efficiency by ________ the costs of medical services
A) increase; increasing B) decrease; increasing C) increase; decreasing D) decrease; decreasing
Which of the following would most likely tell an economist if a policy is efficient?
a. positive analysis b. normative analysis c. subjective analysis d. correlation analysis
Figure 3-21
Refer to . At the quantity Q2,
a.
the value to buyers and the cost to sellers are both P2.
b.
the value to buyers is P2 and the cost to sellers is P3.
c.
the value to buyers and the cost to sellers are both P3.
d.
the value to buyers is P3 and the cost to sellers is P2.