Because marginal cost is always ________ in the short run, total variable cost always ________ when output increases.

Critics of the current system of flexible exchange rates allege that it

a. promotes inflation b. promotes unemployment c. gives central banks too little discretion over their money supplies d. restricts the growth of developing countries e. gives too much financial power to industrial countries

People continue to value money because they have confidence in its convertibility into goods and services

a. True b. False Indicate whether the statement is true or false