During World War II, whenever interest rates would ________ and the price of bonds would begin to ________, the Fed would make open market purchases

The government unit that wants to achieve "revenue enhancement" will find it considerably more favorable to enact an excise tax on goods whose demand is

A) highly elastic. B) relatively elastic. C) highly inelastic. D) unitary elastic.

Which of the following best describes circumstances surrounding the breakdown of the Bretton Woods system?

a. The United States was enjoying a persistent trade surplus. b. There was too much dependence on the dollar because no other country had a stable currency. c. Germany, with its strong currency, refused to defend the dollar. d. Speculators were betting on the fall of the dollar. e. All the other nations basically wished their currencies to appreciate, which was impossible under the system.