Perfectly competitive firms produce up to the point where the price of the good equals the marginal cost of producing the last unit. This condition is referred to as

The collapse of communism in eastern Europe after 1989 created a major shift in the world and led to what is known as the

a. global war on terror. b. free market society. c. rise in multipolarity. d. third wave of democratization.

The International Monetary Fund was created

A) in 1945 by the Bretton Woods Agreement. B) to collect money from member countries that were running balance of payments deficits. C) in 1971 when President Richard Nixon signed the Bretton Woods Agreement. D) in the aftermath of World War II to help nations move off of the gold standard.