All of the following are considered among the four most important determinants in explaining exchange rate fluctuations in the long run except
A) relative rates of productivity growth across countries.
B) preferences for domestic and foreign goods.
C) tariffs and quotas.
D) interest rates.
D
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According to this Application, the recent result of the harmattan was to ________ the equilibrium price and ________ the equilibrium quantity of cocoa
A) increase; decrease B) decrease; increase C) increase; increase D) decrease; decrease
Joe consumes crawfish and shrimp. His utility function exhibits diminishing marginal utility of crawfish but the marginal utility of shrimp is constant. Will Joe's indifference curves be convex?
What will be an ideal response?
Refer to the table below. Recall that the bidders only know their own private value of the item and they do not know the other participants' private values. Further, assume each participant will submit bids using their optimal strategy. If the participants are bidding in an English auction and the auctioneer sets the opening bid $6 million and increases the bids by $0.25 million until no one
submits a higher bid, Bidder ________ wins the auction and pays ________.
The table above lists the independent private values of five participants in an auction. Each of the bidders only knows their own value and does not know the private values of the other participants.
A) #5; $9.5 million
B) #3; $10 million
C) #3; $9.75 million
D) #5; $9.25 million
Which of the following countries achieved economic growth, in part, by reducing its population growth rate?
a. The former Soviet Union b. The United States c. The United Kingdom d. China e. Hong Kong