Under the Bretton Woods system, currencies were fixed in terms of the U.S. dollar.
Answer the following statement true (T) or false (F)
True
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Assume labor is the only variable input and that an additional input of labor increases total output from 72 to 78 units. If the product sells for $6 per unit in a purely competitive market, the MRP of this additional worker is
A. $72. B. $12. C. $36. D. $6.
In the classical model, if the amount households wish to save exceeds the sum of the amount businesses wish to invest plus the government's budget deficit, the loanable funds market
a. will be in disequilibrium, but this does not prevent equilibrium in the total economy b. will be in disequilibrium, and we would expect the supply of funds to decrease c. will be in disequilibrium, and we would expect the interest rate to rise d. will be in disequilibrium, and we would expect the interest rate to fall e. may be in equilibrium, because unplanned inventory changes have not been included
Japan is now the Asian nation with the most outbound travelers.
Indicate whether the statement is true or false.
How do open market operations work?
What will be an ideal response?