If the cost of buying an identical basket of goods in country A is greater than country B:
a. People will tend to sell currency from country A and buy currency from country B
b. The prices of those baskets of goods will tend to converge.
c. If the goods in the baskets are internationally traded, the tendency for prices to converge will be stronger.
d. All of the above are true.
d
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Products can be differentiated
A) if the buyers are homogeneous and their number increases. B) by location and by brand name. C) only by brand name. D) none of the above
Policies that preclude the deliberate creation of monopoly and undesirable practices are called
a. antitrust policies. b. anti-monopoly policies. c. anti-competitive policies. d. socialism.
In situations where businesses discriminate in response to the preferences of consumers, discrimination:
A. is not consistent with efficient markets. B. is consistent with efficient markets. C. will be eliminated by the market. D. will not persist even though it's what the customers want.
Refer to the diagram. Which one of the following might shift the marginal benefit curve from MB1 to MB2?
What will be an ideal response?