The Bretton Woods agreement was reached
a. immediately after the Civil War
b. just before World War I
c. just after World War I
d. just after the Great Depression
e. toward the end of World War II
E
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Use the following graphs to answer the next question.
In the graphs, the numbers in parentheses near the AD1, AD2, and AD3 labels indicate the levels of investment spending associated with each curve. All figures are in billions. What is the desired level of investment spending in this economy if the goal is to achieve a noninflationary, full-employment level of real GDP?
A. $100 billion B. $225 billion C. $150 billion D. $50 billion
The economic efficiency of any process will be evaluated by
A) the proportion of marginal to non-marginal costs. B) the ratio of work done to energy supplied. C) comparing what is gained from what is sacrificed. D) the relationship of supply to demand.
The figure above shows that the unregulated market equilibrium occurs at a tuition of ________ a year and ________ million students
A) $15,000; 7.5 B) $25,000; 15 C) $15,000; 15 D) $25,000; 7.5 E) $38,000; 7.5
What can good assumptions do?
a) cause economists to leave out important variables that make their theories worthless b) simplify the complex world and make it easier to understand c) further complicate an already difficult topic d) allow economists to see the "big picture" instead of only small segments