Why did the Bretton Woods system ultimately break down?
a. The refusal of OPEC countries to accept payment for oil in gold.
b. The refusal of surplus countries to devalue as required by law.
c. An inability to devalue the U.S. dollar despite chronic payments deficits.
d. An inability to adequately measure balance of payments surpluses and deficits.
c
Economics
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The barrier to entry that allowed Alcoa to make persistent economic profits was ownership of an essential input
Indicate whether the statement is true or false
Economics
The price of domestic goods in terms of foreign goods is referred to as the
A) nominal exchange rate. B) real exchange rate. C) relative inflation rate. D) purchasing power parity rate.
Economics