What are the drawbacks of overvaluing the exchange rate as an import substitution policy?
What will be an ideal response?
Discourages exports and leads to trade deficit or to use of exchange controls.
Economics
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If the price elasticity of demand is less than 1, a monopoly's
A) total revenue increases when the firm lowers its price. B) total revenue decreases when the firm lowers its price. C) marginal revenue is undefined. D) marginal revenue is zero.
Economics
Roderick received a $100 savings bond for his graduation. The bond pays $100 at maturity, which is in five years. If the interest rate is 6%, the bond has a present value of $90.09
Indicate whether the statement is true or false
Economics