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:

Economy

The system of production, distribution, and consumption of goods and services within a geographical region.

Monopoly Position

A market condition where a single entity dominates the supply of a particular good or service, limiting competition.

De Beers Diamond

De Beers Diamond refers to the diamonds mined, marketed, and sold by De Beers, a company known for its historical dominance in the diamond industry.