The Bretton Woods exchange rate system was an example of a
A) target zone.
B) managed float.
C) pure gold standard.
D) modified gold standard.
E) floating exchange rate system.
D
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What are automatic stabilizers and how do they affect the economy? Which is the most important?
Credit cards perform the same functions as money as long as the card holder's bank account has sufficient funds to allow the transactions
a. True b. False Indicate whether the statement is true or false
The windfall profits tax on oil will curtail oil production if
A. oil executives decide to be spiteful. B. the demand for oil is inelastic. C. the supply curve for oil is upward sloping. D. the supply curve for oil is vertical.
The accompanying figure shows the demand curve, marginal revenue curve, marginal cost curve and average total cost curve for a monopolist.
At the socially optimal level of output, this monopolist would:
A. incur an economic loss of $64. B. incur an economic loss of $112. C. earn an economic profit of $16. D. incur an economic loss of $16.