Under a fixed exchange rate regime, if a country has an undervalued exchange rate, then its central bank's attempt to keep its currency from ________ will result in a ________ of international reserves
A) depreciating; gain
B) depreciating; loss
C) appreciating; gain
D) appreciating; loss
C
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Increasing opportunity cost is represented by a ________ production possibilities frontier
A) linear B) vertical C) bowed out D) bowed in
According to public choice theory, tariffs, quotas, and other trade restrictions are primarily the result of the
a. political clout of foreigners. b. political clout of domestic consumers. c. political power of special interest groups. d. political desire for economic efficiency.
Computerization of the business world since the 1980s and the development of the Internet in the 1990s
A. created more perfectly competitive firms. B. brought businesses closer to a state of perfect knowledge. C. created perfect mobility among resources thus making all businesses closer to the state of perfect competition. D. has made products more identical.
Which of the following is the BEST example of a monopsonist?
A. Hershey's Chocolate Factory in Hershey, PA B. Vinaka Coffee Shop in Carlsbad, CA C. a household hiring a gardener D. a turnip farmer hiring seasonal help