If a country's international reserves are increasing, then its exchange rate is ________ and there is a balance-of-payments ________.

A. undervalued; surplus
B. overvalued; surplus
C. overvalued; deficit
D. undervalued; deficit


Answer: A

Economics

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The output level is constant along any isoprofit line.

Answer the following statement true (T) or false (F)

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A situation in which the price charged is greater than society's opportunity cost would lead to

A) market failure. B) marginal monopoly pricing. C) marginal profits. D) marginal cost pricing.

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President Ronald Reagan once joked that a Trivial Pursuit game designed for economists would

a. have no questions but hundreds of answers. b. have 100 questions and 3,000 answers. c. have 1,000 questions but no answers. d. never produce a winner.

Economics

In this graph, what does Y represent?



a. demand
b. output
c. spending
d. consumption

Economics