The efforts of nations to influence exchange rates are known as
A) open market operations. B) establishing terms of trade.
C) foreign exchange market intervention. D) rate discrimination.
C
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The figure above shows supply curves for soft drinks. Suppose the economy is at point a. A movement to point d would be the result of
A) an increase in technology. B) a decrease in the relative price of a soft drink. C) an increase in the relative price of a soft drink. D) an increase in the number of soft drink suppliers.
If something serves as a store of value, we expect it to be
A) divisible. B) durable. C) of intrinsic value. D) light.
To promote economic efficiency, government should
a. keep all prices as low as possible. b. keep all prices high so that people will save more money. c. allow the market to set low prices for abundant goods and high prices for scarce goods. d. never interfere with firms' price setting powers.
If firms are required to pay the social costs of a negative externality, they would produce more of the good causing the externality
a. True b. False Indicate whether the statement is true or false