The exchange-rate arrangement that emerged from the Bretton Woods conference is often referred to as the:
a. dollar exchange standard.
b. euro exchange standard.
c. gold exchange standard.
d. silver exchange standard.
e. flexible exchange rate standard.
c
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The standard of living (measured by what one can purchase with after-tax income) of free Americans on the eve of the Revolution was ______
a. lower than in 18th -century England, and lower than most people in the "Third World" today. b. higher than in 18th -century England, and higher than most people in the "Third World" today. c. lower than in 18th century England, but higher than most people in the "Third World" today. d. higher than in 18th- century England, but lower than most people in the "Third World" today.
While it is possible to erect barriers to foreign competition and save domestic jobs, restricting international trade may impose large costs on an economy
a. True b. False Indicate whether the statement is true or false