A policy of raising the minimum wage is beneficial to all low-skilled workers

The fixed exchange rates of the Bretton Woods system were maintained

A) by central bank interventions in the foreign-exchange market. B) by the requirement that short-term interest rates be equalized in all participating countries. C) by the requirement that long-term interest rates be equalized in all participating countries. D) through the automatic workings of the foreign-exchange market.

Refer to Figure 4.1. The income effect of the price change in food on the quantity of food purchased is:

A) the change from F3 to F1. B) the change from F3 to F2. C) the change from F2 to F1. D) the change from F1 to F2. E) none of the above