The International Monetary System was established
A) by the United Nations.
B) by the Bretton Woods Agreement.
C) by the United States, in cooperation with Great Britain.
D) during the Great Depression by the League of Nations.
Answer: B
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The behavior of regulators when trying to win approval for their actions from their entire constituency is best described by the
A) capture hypothesis. B) law of increasing social well-being. C) share-the-gains, share-the-pains hypothesis. D) marginal benefit pricing hypothesis.
Poor Asian countries may have per capita GDPs that may be less than $250. Why is this somewhat misleading for comparative purposes?
A. Most rich country’s GDP is nonmarket activity. B. A significant amount of poor country’s GDP is nonmarket activity. C. Poor countries do not use dollars. D. Poor countries have few resources.
About how much of the tax is paid by cigarette sellers?
A. 2 cents
B. 8 cents
C. 10 cents
D. 18 cents
Refer to the above graph. The shift of the budget line from CD to AB is consistent with:
A. an increase in the price of Good 1 and no change in the price of Good 2. B. a decrease in money income. C. an increase in money income. D. a decrease in the price of Good 2 and no change in the price of Good 1.