A firm's advertising can help rivals
A) if it focuses on a general problem that the product addresses.
B) if it focuses on a secret ingredient that only this firm possesses.
C) if rivals do not advertise.
D) if rivals advertise.
A
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The demand for the Franconian franc in the foreign exchange market equals 14,000 - 3,000e and the supply of francs in the foreign exchange market equals 2,000 + 2,000e, where e is the nominal exchange rate expressed in U.S. dollars per franc. If the franc is fixed at 2 U.S. dollars per franc, then to maintain this fixed rate Franconia's international reserves must:
A. increase by 4,000 francs per period B. decrease by 4,000 francs per period C. increase by 2,000 francs per period D. decrease by 2,000 francs per period
Diffusion of responsibility exists when
A) the members of a group believe one thing but mistakenly assume that most of the other members believe something else. B) a group of bystanders all agree that something needs to be done but each feels less personal responsibility for taking action because each perceives that there are others who could take action. C) a majority of people in a group do not have the intellectual capacity of arriving at a viable solution to a public goods problem. D) the least-capable member of a group exerts his influence over the rest of the group when trying to arrive at a decision on how to internalize an externality.
Refer to Figure 19-10. Under the Bretton Woods System of exchange rates, if the par exchange rate was $2 per pound in the figure above, and equilibrium persisted at $3, then this was evidence of ________ and the IMF would allow a ________ in the
exchange rate. A) fundamental disequilibrium; revaluation B) fundamental disequilibrium; devaluation C) fundamental overvaluation; revaluation D) fundamental overvaluation; devaluation
The gross public debt is the
A) amount of U.S. paper currency and coins in circulation. B) difference between current government expenditures and tax revenues. C) ratio of past deficits to past surpluses. D) total of all accumulated deficits and surpluses.