For all perfectly competitive firms in the short run and in the long run,
a. price equals marginal revenue
b. demand is perfectly inelastic
c. only economic profit is earned
d. only normal profit is earned
e. the market demand curve is horizontal
A
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A country simultaneously raises tariffs on manufactured goods and overvalues the exchange rate. Why might these seemingly contradictory policies be pursued together?
What will be an ideal response?
The most successful region of transition
a. Central Europe b. Russia c. Central Asia d. Belarus e. Afghanistan
Excess reserves fuel the deposit expansion process, and a lower reserve requirement drains this fuel from the banking system, thereby reducing the amount of new money in that can be created
Indicate whether the statement is true or false
State the advantages and disadvantages of a foreign country adopting the U.S. dollar as its own currency.
What will be an ideal response?