The Figure Below Shows the Demand (D) and Supply (S)

question 92

Multiple Choice

The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.Figure 21.4

-The Bretton Woods System of exchange rates was established:

• A)to solidify support for the then-existing gold standard.
• B)to peg the worldwide price of silver to the price of gold.
• C)in Europe before World War II to establish a flexible exchange rate regime.
• D)in the United States in 1944 to develop a gold exchange standard.
• E)by a mechanism that made gold the reserve currency of the system.

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Definitions:

Prototypical Idealization

The process of creating ideal models or examples in one's mind that represent the most typical or classic features of a particular category or concept.

Valid

A term that describes something based on truth, fact, or logic, often used in the context of arguments, research findings, or tests.

Normed

The process of standardizing a test or assessment by administering it to a large group to establish norms for interpreting scores.

Reliable

The extent to which a measurement instrument delivers consistent and stable outcomes.