A country which does not revalue when financial markets expect it to will probably suffer
A) a real depreciation of its currency.
B) lower interest rates.
C) a default on its national debt.
D) all of the above
E) none of the above
B
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If a 10 percent rise in price leads to a reduction in quantity demanded of more than 10 percent,
A. demand is elastic. B. demand is inelastic. C. elasticity of demand is unitary. D. None of the above is correct.
The last time the U.S. Post Office raised its prices for mail service critics of the rate increase argued that the Post Office's revenues would actually decline as a result of the price increase. It can be concluded that:
A) both groups believe demand is elastic, but for different reasons. B) both groups believe demand is inelastic, but for different reasons. C) the Post Office believes demand for mail service is elastic; opponents of the price increase believe demand is inelastic. D) the Post Office believes demand for mail service is inelastic; opponents of the price increase believe demand is elastic.
Time has a positive value for most people, but their opportunity costs of time differ
a. True b. False
Why is there often resistance to free trade?
A. Free trade does not benefit the economy as a whole. B. Specific groups may be hurt by free trade. C. Free trade usually hurts consumers. D. Free trade does not benefit the global economy.