Which of the Following Changes Were Made to IMF's Articles

question 65

Multiple Choice

Which of the following changes were made to IMF's Articles of Agreement in the Jamaica agreement?

• A) IMF members were permitted to use Dollar as the convertible currency.
• B) Gold was declared as a formal reserve asset for IMF members.
• C) IMF members were permitted to sell their gold reserves at the market price.
• D) IMF members were restricted from entering the foreign exchange market.

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Definitions:

Variable Cost

Costs that change in proportion to the level of activity or volume of goods produced in a business.

Marginal Cost

The increase in cost that arises from producing one additional unit of a good or service.

Total Variable Cost

The sum of all variable costs associated with the production of a given level of output.

Total Fixed Cost

The sum of all costs required to produce any product or service that does not change with the level of output.