Which of the following was the first to prohibit "conspiracies in restraint of trade"?
A. The Sherman Act.
B. The Gramm-Rudman Act.
C. The Federal Trade Commission Act.
D. The Clayton Act.
Answer: A
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Under the Bretton Woods agreement,
a. nations could not adjust their exchange rates relative to the dollar for any reason b. currency values were based on a market basket of European currencies plus the dollar c. the world monetary system operated exactly like the gold standard of pre-World War II years d. the dollar was selected as the key reserve currency e. gold played no role
Which of the following is an assumption made while constructing a production possibilities frontier [PPF]?
a. Dynamic technological know-how b. Flexible resource quality c. Fixed resource quantity d. Full and efficient use of resources e. Flexible money supply