What is the primary reason exchange rates were overvalued under ISI?
What will be an ideal response?
Because fixed exchange rates were used and inflation was higher than that of trading partners
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Developing countries send their best students to get an education in developed countries to help develop
A) better political skills. B) more education people. C) a skilled work force. D) a channel of communications.
The opportunity cost of producing one more unit of a good or service is the
A) marginal cost. B) marginal benefit. C) efficient level of production. D) market outcome. E) price of the good or service.
In the game in Scenario 13.2, the equilibrium strategies
A) are for both firms to offer rebates. B) is for ABC to offer a rebate, and XYZ not to offer a rebate. C) is for XYZ to offer a rebate, and ABC not to offer a rebate. D) are for both firms to offer no rebate. E) does not exist in pure strategies.
The U.S. federal budget is determined exclusively by Congress
a. True b. False Indicate whether the statement is true or false