On May 12, 2011, it cost U.S. $1.64 to buy one British pound. How many British pounds would U.S. $1 buy?

An increase in the discount rate ________ bank reserves and ________ the money supply if banks with outstanding loans are encouraged to pay them back more quickly

A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases

A monopolistic competitor does not earn profits in the long run unless it can successfully differentiate its product in the minds of its consumers

Indicate whether the statement is true or false