A fixed exchange rate is enforced by
a. national governments, who establish appropriate trade barriers for each country with whom they trade
b. national governments, who manipulate gold reserves appropriately
c. central banks, who buy and sell appropriate currencies
d. the International Monetary Fund, which offers loans to appropriate countries
e. local governments, who manipulate capital reserves appropriately
C
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An important feature of the DMP model is that
A) would-be workers care not just about the market wage, but about the chances of finding work. B) firms can fire workers. C) workers can choose to shirk on the job. D) firms maximize revenue.
Erin reduces the price of her handmade boxes by 10 percent. The following month the sale of this product increases 9 percent. As a result, Erin’s income for this month most likely ______.
a. decreased slightly b. decreased sharply c. increased slightly d. increased sharply