A fixed exchange rate system crisis may be accompanied or followed by
A) unexpected gains of international reserves.
B) revaluation of a currency.
C) devaluation of a currency.
D) gains in comparative advantage.
E) deflationary pressures within the country.
C
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The figure illustrates Anne's demand for books. At ________ a book, Anne's demand for books is inelastic
A) all prices between $15 and $30 B) all prices between $10 and $15 C) all prices between $10 and $20 D) all prices below $30
If the selling price of a product is $10, the average total cost is $8, and total sales are 5,000 units, the total profit will be
a. $5,000. b. $8,000. c. $10,000. d. $20,000.
If steel manufacturers expected that the price of steel was going to rise in the next six months, this would
a. have no change in the competitive market for steel b. lead to a decreased demand for steel c. lead to a decreased supply of steel d. increase the future demand for automobiles e. lead to a decrease in the quantity of steel supplied to the market
Answer the question based on the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year.
Refer to the above data. If year 2 is the base year, the price index for year 3 is:
A.
120
B.
125
C.
133
D.
150