This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The focal point of the Bretton Woods system was the: a. Great Britain pound. b. institution of ... (Read 20 times)

j.rubin

  • Hero Member
  • *****
  • Posts: 557
on: Jun 30, 2018
The focal point of the Bretton Woods system was the:
 a. Great Britain pound.
  b. institution of special drawing rights.
  c. U.S. dollar.
  d. gold reserve.
  e. management of commodity money.

Question 2

What is the law of comparative advantage, and why is it important in international trade?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bpool94

  • Sr. Member
  • ****
  • Posts: 354
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

The law of comparative advantage states that aggregate output is maximized when countries specialize in the production of goods for which they are the lowest opportunity cost producer, and then trade for other goods. Tit explains how countries can improve their situation through trade, rather than producing all goods themselves.


j.rubin

  • Member
  • Posts: 557
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

kusterl

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

An electrocardiogram (EKG) wave, a record of the electrical signal as it moves through the conductio An electrocardiogram (EKG) wave, a record of the electrical signal as it moves through the conductio
Renal System Renal System
Procedures and Diagnostic Tests Related to the Cardiovascular System Procedures and Diagnostic Tests Related to the Cardiovascular System
Major Degenerative Diseases of the Central Nervous System Major Degenerative Diseases of the Central Nervous System
Active fuel management includes many different components and changes to the oiling system, which ... Active fuel management includes many different components and changes to the oiling system, which ...
Receptors in the Autonomic Nervous System Receptors in the Autonomic Nervous System
Video: Pressure volume relationships - Normal inspiration and expiration

For a complete list of videos, visit our video library