The agreements that were reached at the Bretton Woods conference in 1944 established a system
A. in which the values of currencies were fixed in terms of a specific number of ounces of gold, which in turn determined their values in international trading.
B. of essentially fixed exchange rates under which each country agreed to intervene in the foreign exchange market when necessary to maintain the agreed-upon value of its currency.
C. of floating exchange rates determined by the supply and demand of one nation's currency relative to the currency of other nations.
D. that prohibited governments from intervening in the foreign exchange markets.
Answer: B
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In the accelerator theory the
A) smaller the desired capital-output ratio the larger will be net investment. B) smaller the desired capital-output ratio the larger will be replacement investment. C) larger the desired capital-output ratio the larger will be net investment. D) larger the desired capital-output ratio the smaller will be replacement investment.
Since measurable factors such as years of experience and years of education explain less than half of the variation in wages, ability, effort, and chance must play a significant role in determining wages
a. True b. False Indicate whether the statement is true or false