If a country has a fixed exchange rate, it:
A. has a value that is set by the government.
B. allows for more predictability and stability.
C. helps attract foreign investment and gives businesses that depend on overseas trade more confidence to invest.
D. All of these statements are true.
D. All of these statements are true.
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To differentiate its product, a monopolistic competitive firm will engage in all of the following advertising practices EXCEPT
A) direct marketing. B) mass marketing. C) interactive marketing. D) indirect marketing.
"If all economists were laid end to end, they would not reach a conclusion.". Who made this whimsical observation?
a. Harry Truman b. George Bernard Shaw c. John Maynard Keynes d. Ronald Reagan
If a person wishes to maximize their satisfaction from the consumption of a free product, they should consume until
A. marginal utility is maximized. B. marginal utility is equal to total utility. C. total utility is equal to zero. D. marginal utility is equal to zero.
Which of the following is TRUE of the price charged by a monopolistically competitive firm at the profit-maximizing level of output?
A) P > MC B) P = MC C) P = MR D) P < AVC