A narrow target zone exchange rate band (such as the EEC had until 1992 ) is most similar to
A) a flexible exchange rate system.
B) a single currency.
C) a fixed exchange rate system.
D) an undervalued currency.
E) a managed floating exchange rate.
C
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Which of the following would be considered a contingent contract?
A) a piece rate contract B) a profit-sharing contract C) a contact with a bonus D) All of the above.
A number of firms who collude to make collective production decisions about quantities or prices is called:
A. a cartel. B. a duopoly. C. market power. D. a joint monopoly.
Demand and supply shifts will cause a price to change, but a change in the price of only a good affects quantity demanded and quantity supplied, never demand and supply itself
a. True b. False Indicate whether the statement is true or false
A firm's short-run supply curve is its marginal cost curve above its average total cost curve.
Answer the following statement true (T) or false (F)