An important feature of a ________ is that the holder has the right, but not the obligation, to buy or sell currency

In a December 2007 New York Times column Paul Krugman argued in favor of

a. protectionism based on the national-security argument. b. protectionism based on the infant-industry argument. c. protectionism based on the unfair-competition argument. d. keeping world markets relatively open.

Opportunistic behavior by oligopolies means

A) that firms cooperate in both the long run and in the short run to prevent others from entering the industry. B) that firms cooperate in the short run for current gains. C) that firms refuse to cooperate in the short run. D) that firms refuse to honor their product guarantees.