Under the Bretton Woods agreement,
a. nations could not adjust their exchange rates relative to the dollar for any reason
b. currency values were based on a market basket of European currencies plus the dollar
c. the world monetary system operated exactly like the gold standard of pre-World War II years
d. the dollar was selected as the key reserve currency
e. gold played no role
D
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In the United States, which part of government investigates claims of subsidies or dumping?
What will be an ideal response?
The desire to smooth consumption is reflected in
A) the consumer's budget constraint. B) the curvature in a consumer's indifference curves. C) choice between present and future. D) the production possibilities frontier.
. The market price system provides a highly efficient mechanism for disseminating information about relative scarcities of
a. the quantity supplied minus the quantity demanded. b. surpluses, shortages, and quantity. c. goods, services, labor, and financial capital. d. price controls and equilibrium prices.
The basic equation for a bank's balance sheet is ____
a. assets = liabilities ? net worth b. net worth = assets ? liabilities c. net worth = assets + liabilities d. liabilities = net worth + assets