The Bretton Woods system was the major system of exchange rate determination
A. between World War I and World War II.
B. after 1971.
C. before 1914.
D. from the end of World War II until 1971.
Answer: D
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Figure 4-23
In Figure 4-23, which of the following movements would be caused by a change in income?
A. A to C B. C to A C. B to D D. B to A
The goal of a cartel is to
A) increase competition among members. B) maximize industry profits. C) increase industry production. D) all of the above.
The welfare of sellers is measured by
a. consumer surplus. b. producer surplus. c. total surplus. d. price.
Which of the following is the best indication that the government is pursuing restrictive fiscal policy?
A. The cyclical deficit increases. B. The total deficit increases. C. The structural deficit increases. D. The structural deficit decreases.