All of the following are ways to control currency convertibility EXCEPT ________.
A) import licenses
B) multiple exchange rates
C) import deposits
D) purchasing power parity
D) purchasing power parity
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If the cross-elasticity of demand for two goods is positive, this means that the goods are:
A. normal goods. B. inferior goods. C. substitutes. D. complements.
Uncovered interest arbitrage is buying a country's currency spot and selling that country's currency forward, to make a net profit from the combination of the difference in interest rates between countries and the forward premium on the country's currency.
Answer the following statement true (T) or false (F)
The firm in the above figure breaks even when quantity is
A. A. B. B. C. C. D. D.
What criticism does the textbook level against the cost-plus-markup theory of price setting?
A) The theory does not agree with what businessmen say about price setting. B) The theory does not account for vastly different percentage markups on different products. C) The theory implies firms will sometimes want to set prices below average cost per unit. D) The theory ignores sunk costs. E) All of the above.