The End of the Bretton Woods Standard Came in About

question 57

True/False

The end of the Bretton Woods standard came in about 1929 with the stock market crash.

---

Definitions:

Marginal Revenue

The increased earnings a business obtains from the sale of one extra item or service.

Marginal Cost

The increase in total cost that arises from producing one additional unit of a product.

Output

The quantity of goods or services produced in a given time period by a firm, industry, or country.

Economic Profit

The divergence between aggregate income and total outlays, inclusive of both tangible and intangible expenses.