Which of the following statements is true?
A) Black markets for currency are more likely to occur in countries with undervalued currencies than with overvalued currencies.
B) Black markets for currency are more likely to occur in countries with convertible currencies than with non-convertible currencies.
C) Black markets for currency are more likely to occur in countries with overvalued currencies than with undervalued currencies.
D) Black markets for currency are equally likely to occur in countries with undervalued currencies or with overvalued currencies.
C
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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
If the quantity output and average cost at that output level are known, then it is possible to determine marginal cost for that output level.
Answer the following statement true (T) or false (F)
Being too big a firm can be a per se violation of antitrust laws
a. True b. False Indicate whether the statement is true or false
Which of the following is NOT a valid explanation for the failure of the data to support PPP? theory?
a. Differences in price level measurements across countries b. Transportation costs c. Departures from free competition d. Trade barriers e. Differences in monetary policies across countries