In a multiple exchange-rate system, the government determines which kinds of transactions are to be conducted at which exchange rate.
a. true
b. false
a. true
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In the long run, higher government budget deficits will
A) lead to a redistribution of real GDP from privately produced goods and services to government produced goods and services. B) lead to a redistribution of real GDP from government produced goods and services to privately produced goods and services. C) cause the price level to go down on government goods but not on private goods. D) lead to a reduction in the amount of goods and services produced by the government and private sector.
Which statement is true if the monopolist can observe the consumer's type in the nonlinear-pricing application?
a. The monopolist supplies the consumer with as much of the good as if it were competitively priced. b. The monopolist's profit approaches the upper bound from the simple linear pricing problem. c. The monopolist extracts all of the surplus from the low type but not the high type. d. The monopolist extracts all of the surplus from the high type but not the low type.
Marginal product is represented by:
A. the x-axis of the total production curve. B. total product minus the total cost. C. the slope of the total production curve. D. total revenue minus total cost.
Explain the relationship between U.S. net exports and the prosperity of trading partners for the United States.
What will be an ideal response?