Under the Bretton Woods system of fixed exchange rates, the price of the U.S. dollar was fixed in terms of gold and the prices of all other currencies were fixed in terms of dollars.
Answer the following statement true (T) or false (F)
True
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In an oligopolistic market there are
A. few sellers. B. many sellers. C. many buyers. D. few buyers.
Steve can tell if his car has been fixed or not—it works, or it doesn't—but he cannot tell how it was fixed. The car repair is a(n)
A) experience good. B) credence good. C) logo good. D) search good.
The balance of trade is
A) the difference between exports and imports of goods and services. B) the difference between exports and imports of services. C) the summary record of a country's economic transactions with foreigners in a year. D) none of the above.
If the U.S. dollar appreciates relative to the Brazilian cruzeiro, then
a. the U.S. dollar-cruzeiro exchange rate will increase b. U.S. goods become less expensive in Brazil c. Brazilian goods become more expensive in the U.S. d. Brazilian investors will pay fewer cruzeiros to buy each U.S. dollar e. the U.S. will import more from Brazil