A currency board can ________ a country's ability to act as a lender of last resort
A) aggrandize
B) limit
C) enhance
D) offset
E) not affect
B
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The misperceptions theory of the short-run aggregate supply curve says that if the price level is higher than people expected, then some firms believe that the relative price of what they produce has
a. decreased, so they increase production. b. decreased, so they decrease production. c. increased, so they increase production. d. increased, so they decrease production.
When a monopoly does exist, it is usually ______.
a. absolute b. limited c. unrecognizable d. unprofitable
Firms that are engaging in persistent dumping need to be able to prevent resale between the foreign and domestic markets.
Answer the following statement true (T) or false (F)
If monopolistically competitive firms have some control over their prices, why don’t they set price above average total cost so they will realize an economic profit in the long run?
What will be an ideal response?