Which of the following is not a true statement about the Bretton Woods system?
A) The value of the dollar was fixed in terms of gold.
B) Other currencies fixed values in terms of the dollar.
C) The U.S. was able to increase its money supply easily.
D) Trade deficits were eliminated.
D
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After an economy begins to recover, suppose that the Fed quickly raises interest rates back to the level seen before the recession in order to prevent inflation from occurring. Which type of Fed policymaker would be more likely to have taken this action?
A) Hawks B) Doves C) Both doves and hawks. D) Neither doves nor hawks.
When a park is funded by visitors, but not by taxpayers in general,
a. there will be too few parks because most people simply will not pay to use a park. b. visitors will be better served because poor service would lead to reductions in revenues. c. maintenance in the park will suffer because budgets will decline. d. we cannot predict what will happen because park funding by visitors has not been tried before.