Since a monopoly can set any price it wants, it always makes a profit?
Indicate whether the statement is true or false
False. The profit-maximizing price can result in a loss.
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In the 1990s, the Russian people lost confidence in the value of the ruble, and many were no longer willing to sell goods and services in exchange for Russian currency. Which characteristic of money did the Russian currency lack?
(A) Uniformity (B) Acceptability (C) Limited supply (D) Durability
Under a managed float,
a. a central bank allows the forces of supply and demand to determine the exchange rate b. a nation can have neither a trade deficit nor a trade surplus c. a nation "pegs" its price level to a foreign currency d. a nation "pegs" its price level at some fixed value e. a central bank intervenes in the foreign exchange market to stabilize its exchange rate