Which of the following did NOT lead to the collapse of Bretton Woods?
A) ample supplies of gold
B) collapse of capital controls
C) the Vietnam War
D) unwillingness to peg to the U.S. dollar
Ans: A) ample supplies of gold
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Which of the following statements about economic fluctuations istrue ?
A. A variety of spending, income, and output measures can be used to measure economic fluctuations because most macroeconomic quantities tend to fluctuate together. B. Economic fluctuations have been termed the "business cycle" because the movements in output are regular and predictable. C. A depression is a mild recession. D. A recession is when output rises above the natural rate of output. E. None of these answers are true.
The Fed's current position towards the existing monetary aggregates is
A) it is convinced that M1 is the best measure of the money supply. B) it is convinced that M2 is the best measure of the money supply. C) it is an issue of ongoing research. D) it is reverting to considering currency alone as the best measure of the money supply.