Compare the macroeconomic performances in the 1990s of the following countries under the following exchange-rate regimes: floating exchange rates, Mexico and Brazil; capital control, China and Malaysia; and currency boards, Estonia and Hong Kong;
dollarization, Argentina.
An open question. Students should use the IMF web site to discuss the issue, and to obtain data.
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Assume the firms in a monopolistically competitive industry initially are earning positive economic profits. Which of the following will not occur over time?
A) The firms' economic profits will be reduced. B) New firms will enter. C) Demand for the existing firms' output will become more inelastic. D) The number of substitutes available in the industry will increase.
When economists say the supply of a product has decreased, they mean that:
a. the supply curve has shifted to the left. b. the product price has decreased, and as a consequence, suppliers are producing less of the product. c. producers are now willing to sell more of this product at each possible price. d. the supply curve has shifted to the right.