The base year is always the year in which prices were the lowest

When an economist considers welfare evaluations, he is looking at

A) whether a policy increases social welfare. B) the ability of an economy to take care of the unemployed. C) price inertia. D) new open economy macroeconomics.

The Bretton Woods system:

a. allowed for market-determined exchange rates. b. ended the use of the gold standard in all participating countries. c. led to a dramatic increase in the U.S. balance of payments deficit. d. resulted in the rapid increase of the U.S. gold supply in the 1960s. e. All of the above.