Policy makers can select from a number of different exchange rate regimes. One of those options is a "hard peg." Which of the following best represents a hard peg?

Refer to Figure 2-11. If the two countries have the same amount of resources and the same technological knowledge, which country has an absolute advantage in the production of cotton?

A) They have the same advantage. B) Pakistan C) Indonesia D) cannot be determined

Expected value represents the average of all outcomes if one were to undertake the risky event many times over and over again

What will be an ideal response?