Who guarantees that prices in the foreign exchange market are identical all over the world?
a. Governments.
b. Supranational organizations.
c. Central banks.
d. Tourists.
e. Arbitrageurs.
.E
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If there are no net factor payments from abroad and no unilateral transfers, net exports of $10 billion is the same as
A) a current account deficit of $10 billion. B) a financial account surplus of $10 billion. C) net acquisition of foreign assets of $10 billion. D) net foreign borrowing of $10 billion.
A competitive firm currently produces and sells 500 units of output. Its total revenue is $3,500; the marginal cost of producing the 500th unit of output is $5.75; and the average total cost of producing the 500th unit of output is $4.00 . Is the firm maximizing its profit, or should it increase or decrease output in order to increase its profit?
?Refer to Exhibit 15-5. In the game:
a. ?the dominant strategy of General Mills is to set a high price.
b. ?the dominant strategy of Kellogg's is to set a low price.
c. ?the dominant strategy of Kellogg's is to set a high price.
d. ?neither firm has a dominant strategy.
Which term describes the ability of people to easily and quickly convert their shares into cash by selling them on the open? market?
A. Potential for conflict B. Reporting requirements C. Liquidity D. Limited liability E. Longevity