If a country's international reserves are increasing, then its exchange rate is ________ and there is a balance-of-payments ________.
A. overvalued; surplus
B. undervalued; deficit
C. overvalued; deficit
D. undervalued; surplus
Answer: D
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"Beaten paths" in the context of labor migration are:
A. Routes taken previously by family, relatives, and friends B. Routes that have been "over used" by previous immigrants C. Routes that are no longer followed by immigrants D. Typical methods used to increase human capital
To borrow funds between tax payment dates, city governments can issue
A) tax anticipation notes. B) corporate bonds. C) general obligation bonds. D) revenue bonds.
The analysis of asymmetric information problems is called ________
A) adverse selection B) microeconomics C) cybernetics D) agency theory
Answer the following statements true (T) or false (F)
1. Forms of imperfect competition include monopoly, oligopoly, and monopolistic competition. 2. Oligopsony refers to a market in which there are a few buyers. 3. Monopsonistic competition is a market in which there are only a few sellers but each offers different conditions to sellers. 4. The rule of reason applies to antitrust activity. 5. The Clayton Act brought labor unions under the jurisdiction of the antitrust laws.