The purpose of the IMF is to:
A. provide developing countries with short-term loans and technical assistance.
B. determine monetary and fiscal policy in developing countries.
C. determine exchange rates for developing countries.
D. buy and sell the currencies of developing countries in order to stabilize their value.
Answer: A
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Refer to Figure 19-8. The equilibrium exchange rate is at A, $1.25/euro. Suppose the European Central Bank pegs its currency at $1.00/euro. At the pegged exchange rate,
A) there is a surplus of euros equal to 700 million. B) there is a shortage of euros equal to 500 million. C) there is a shortage of euros equal to 200 million. D) there is a surplus of euros equal to 300 million.
When a firm produces at the point where MR = MC, the profit that it is earning is considered to be
A) maximum. B) normal. C) above normal. D) Not enough information is provided.
In a market economy, persons undertaking an investment project must
a. obtain approval from political authorities before the project can be undertaken. b. either personally supply the required funds or convince other investors and financiers to do so. c. finance the project entirely with equity capital. d. arrange for bank financing before the project can be undertaken.
What is the struggle among various producers for the consumer's business called
What will be an ideal response?