Which of the following helps to determine a currency's international role as the dominant reserve currency?
A) amount of seigniorage
B) policy goals of national monetary authorities
C) size of the domestic economic activity relative to international trade
D) All of the above
D
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To maximize joint profits, the members of a cartel have to determine the level of industry output by setting marginal revenue qual to the cartel's joint marginal costs of production
Indicate whether the statement is true or false
Textbook publishers often sell the same or essentially identical books in different countries for different prices. Is this an effective form of group price discrimination?
A) Yes, because the first sale doctrine does not apply to overseas sales B) No, because poor foreign students can't afford the books C) No, because people are allowed to buy the books in one country and sell them in another, making money on the arbitrage opportunity D) Yes, because the textbooks are actually different since they have a different cover and an "international" label on them