A country with an undervalued currency
A. will have a balance of payments deficit.
B. will accumulate reserves of foreign currencies.
C. will suffer losses of foreign reserves.
D. must intervene in the foreign-exchange market to buy its own currency.
Answer: B
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Which of the following was not addressed by the Clayton Act?
a. exclusive contracts b. price discrimination c. corporate board members serving on competing corporations d. mergers e. price fixing
Steph Curry loves playing basketball so much that he would be willing accept a salary that simply keeps him housed and fed. But because his skills are so rare, professional basketball teams will compete to pay him tens of millions of dollars to play for them. These tens of millions of dollars are
A. pure profit. B. economic rent. C. marginal rent. D. competitive rent.