A "revaluation" occurs when
A) a nation's currency appreciates under a flexible exchange rate system.
B) the official price of a currency is lowered.
C) a nation's currency depreciates under a flexible exchange rate system.
D) the official price of a currency is raised.
E) none of the above
D
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In the long run, a monopolistically competitive firm's price equals
A) its average total cost and its marginal cost. B) its average total cost but not its marginal cost. C) its marginal cost but not its average total cost. D) neither marginal cost nor its average total cost.
The study of how people make decisions in situations in which attaining their goals depends on their interactions with others is called
A) oligopoly. B) competitive analysis. C) strategic analysis. D) game theory.
Monopolistic competitive firms in the long run earn:
a. positive economic profits. b. zero pure economic profits. c. negative economic profits. d. none of these.
Use a supply and demand diagram to show how migration affects wages in a high-wage country and a low-wage country
