The focal point of the Bretton Woods system was the:
a. Great Britain pound.
b. institution of special drawing rights.
c. U.S. dollar.
d. gold reserve.
e. management of commodity money.
c
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At the beginning of the year, United Delivery had trucks valued at $1.3 million. During the year, United Delivery purchased new trucks valued at $500,000
If the value of the trucks at the end of the year was $1.5 million, what is the amount of its net investment and its depreciation during the year?
Which describes the economic meanings of value and price?
A) Value is exchange worth minus marginal benefit, and price is the dollars that must be paid. B) Value is the marginal benefit obtained, and price is the dollars that must be paid. C) Value refers to the gain the producer gets from the good or service, and price refers to the gain the consumer gets from the good or service. D) Value refers to the dollars that must be paid, and price refers to the cost of producing the good. E) They are the same and both mean the dollars that must be paid.