A reduction in the real exchange rate indicates that
A) foreign goods are now relatively cheaper.
B) foreign goods are now relatively more expensive.
C) domestic goods are now relatively more expensive.
D) both A and C
B
Economics
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For social surplus to be maximized, the ________ buyers are actually making a purchase and the ________ sellers are selling the products
A) lowest-value; highest-cost B) highest-value; lowest-cost C) highest-value; highest-cost D) lowest-value; lowest-value
Economics
Under perfect competition
A) information about prices is hard to obtain. B) there is a maximum number of firms that can enter the market. C) if a firm exits the market, price will rise. D) transaction costs are low.
Economics