If a developing country has sufficient reserves, the buying and selling of foreign currency by the central bank is:
A. likely to have a much smaller impact on the exchange rate than in developed countries.
B. completely ineffective on the exchange rate.
C. likely to have a much greater impact on the exchange rate than in developed countries.
D. likely to have roughly the same impact on the exchange rate as in developed countries.
Answer: C
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Hot dogs and hot dog buns are found to be related by the cross elasticity of demand. If they are complementary goods, the cross elasticity will be
A. positive. B. equal to zero. C. negative. D. unknown.
Compared to whites, blacks had disproportionately high mortality rates in:
a. the far southern colonies. b. the Caribbean colonies. c. the northern mainland colonies. d. the mid-Atlantic colonies.
If a firm in a monopolistically competitive market has a demand curve that is shifting to the right, it will stop shifting when:
A. the firm raises its price. B. the firm lowers its price. C. firms stop entering the market. D. firms stop leaving the market.
An opportunity cost is:
a. the value obtained when making a choice. b. the price paid for the choice that is made. c. what must be given up to obtain something that is desired. d. what must be given up to obtain something that is not desired.