Central banks get the purchasing power to buy foreign exchange by:
a. Buying government securities.
b. Reducing currency in circulation.
c. Increasing their liabilities in the form of deposits from banks.
d. Taking loans from the government.
.C
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A perfectly competitive firm will continue to operate in the short run when the market price is below its average total cost if the
A) marginal revenue is greater than marginal cost. B) price is at least equal to the minimum average variable cost. C) total fixed costs are less than total revenue. D) marginal cost is minimized. E) price is also less than the minimum average variable cost.
One significant reason for the declining membership in unions in the U.S. is
a. more workers are entering the teaching field b. increasing employment in the industrial sector c. the structural shift of the economy toward services d. increasing cultural diversity in the workforce e. a decrease in the number of public sector employees
Price cannot fall so low that some sellers choose to supply a quantity of zero
a. True b. False Indicate whether the statement is true or false
Which of the following statements best reflects the law of diminishing marginal utility?
What will be an ideal response?