Which is not a serious disadvantage associated with freely fluctuating exchange rates?
A. Uncertainty which tends to diminish trade
B. Greater instability in unemployment levels
C. Longer lags in eliminating balance of payments surpluses or deficits
D. Swings in the terms of trade related to currency appreciation or depreciation
C. Longer lags in eliminating balance of payments surpluses or deficits
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A single-price monopoly can sell 10 units of its product at a price of $45 each but to sell 11 units, the monopoly must cut the price to $44. What is the marginal revenue of the extra unit sold?
A) $484 B) $450 C) $44 D) $34 E) -$1
The concept of market conduct includes such things as ____
a. pricing behavior of the firm or group of firms b. product policy of the firm or group of firms c. the degree of seller and buyer concentration in the market d. a and b only e. a, b, and c
Firms in perfectly competitive markets who wish to maximize profits should:
A. keep producing more as long as marginal cost is less than marginal revenue. B. produce where marginal cost and marginal revenue are equal. C. produce less as long as marginal cost is greater than marginal revenue. D. All of these are true.
How would a decrease in the natural rate of unemployment affect the long-run Phillips curve?
a. It would shift the long-run Phillips curve right. b. It would shift the long-run Phillips curve left. c. There would be an upward movement along a given long-run Phillips curve. d. There would be a downward movement along a given long-run Philips curve.