An exchange-rate regime in which the government intervenes in the market to influence the market-determined exchange rate can be called either a dirty float or a managed float.
Answer the following statement true (T) or false (F)
True
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Tomas increased his consumption of potato chips when the price of pistachios increased. For Tomas, potato chips and pistachios are
A) both luxury goods. B) substitutes in consumption. C) both inferior goods. D) complements in consumption.
As firms gain market share, industries become more competitive
Indicate whether the statement is true or false
We are given the individual demand curves for all of the people that consume ice cream. Which statement is TRUE about the market demand curve for ice cream?
A) The market demand curve is obtained by horizontally summing the individual demand curves. B) The market demand curve is obtained by vertically summing the individual demand curves. C) The market demand curve cannot be obtained because information on prices is missing. D) The market demand curve cannot be obtained from individual demand curves.
Markets tend to
A) exist primarily in towns or cities. B) increase transaction costs. C) reduce transaction costs. D) make exchange more difficult.