A nation's official reserves:
A. compensate for differences in the current and capital and financial accounts.
B. consist of all domestic and foreign currency held by a nation's central bank.
C. are always zero.
D. are always negative.
A. compensate for differences in the current and capital and financial accounts.
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Which of the following is TRUE?
a. Discount retailers can defeat price discrimination by the manufacturers through arbitrage b. Arbitrage is not an effective way for retailers to defeat price discrimination by manufacturers c. Retailers are incapable of defeating upstream price discrimination once the manufacturer sets prices d. "High End" retailers can defeat price discrimination by the manufacturers through arbitrage
A profit-maximizing monopolist produces an output level at which
a. marginal revenue is the greatest distance from marginal cost b. price is less than marginal cost c. the value to society of the last unit produced equals marginal cost d. marginal revenue equals marginal cost e. consumers wish to purchase less than what is produced because of high monopoly prices