If a firm reacts to other firms' market decisions by anticipating how the others will then react, this reflects
a. the behavior of followers of a price leader
b. the behavior associated with price leadership
c. a market with a low concentration ratio
d. mutual interdependence
e. collusion by definition
D
Economics
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If a government wishes to limit or prohibit fluctuations in exchange rates, it will choose:
a. to fix, or peg, the value of its currency to some base currency over a sustained period. b. to allow its currency to rise or fall in price, depending on a variety of supply and demand factors. c. to suspend purchases and sales of its currency. d. to allow the rate to be set by international banks.
Economics
The Single European Act
A) created a common currency. B) created a free trade area. C) created a customs union. D) created a common market for capital and labor.
Economics