The promise that was to hold the Bretton Woods system together was the agreement that
A) no industrial country would allow high rates of inflation.
B) foreign central banks would be able to convert U.S. dollars into gold at a fixed price.
C) no country would raise tariffs on the products of other countries.
D) all countries would be willing to redeem their paper currencies for gold.
B
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What is one way to measure technological progress?
(A) Any increases in labor minus increases in capital. (B) Total growth plus increases in capital and labor. (C) Total growth minus increases in capital and labor. (D) Any increases in capital minus increases in labor.
The Navigation Acts (1651 and later amendments)
(a) defined the British Empire within Europe and restricted shipping and trade between it and the external world. (b) had a major purpose of enlarging and protecting the King of England's income derived from trade through shipping and trade. (c) advanced free trade across the British Empire. (d) held true for all of the above.