In the trade-based theory of exchange rate determination, the quantity supplied of a currency in the foreign exchange market results from
A) its exports of goods and services.
B) the nation's demand for imports
C) the level of domestic absorption.
D) the import demand curve.
A
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Suppose this economy is currently closed. ________ is/are most likely to want open trade, and ________ is/are most likely to oppose opening the economy to trade. 
A. bike manufacturers; bike purchasers B. the government; bike purchasers C. bike manufacturers; the government D. bike purchasers; bike manufacturers
The formula Es/(Es - Ed) is used to calculate the
A) deadweight loss from price support programs. B) increase in consumer surplus from a price ceiling. C) fraction of a specific tax that is passed through to consumers. D) none of the above
Which of the following is concerned primarily with price discrimination?
a. The Sherman Antitrust Act. b. The Clayton Act. c. The Robinson-Patman Act. d. The Celler-Kefauver Act.
Information goods such as a music video have an L-shaped average cost curve.
Answer the following statement true (T) or false (F)