A country has been in existence for only two years. In the first year, tax revenues were $1 million and expenditures were $1.5 million. In the second year, tax revenues were $1.5 million and expenditures were $2 million. At the end of the second year, the government has issued debt worth...

Policy makers can select from a number of different exchange rate regimes. One of those options is a "hard peg." Which of the following best represents a hard peg?

A) a revaluation B) a currency board C) a flexible exchange rate regime D) the EMS E) none of the above

Total producer surplus is the area below the equilibrium price and above the supply curve

a. True b. False Indicate whether the statement is true or false