If a country fixes its exchange rate below the equilibrium value,
a. the result is an excess supply of that currency
b. there will be downward pressure on the exchange rate
c. its GDP will increase
d. its GDP will decrease
e. it will have to sell its own currency in order to eliminate the excess demand
C
Economics
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In the above figure for a monopolistically competitive firm, the profit-maximizing output and price are respectively
A) 80 units and $11. B) 50 units and $8. C) 60 units and $9. D) 60 units and $14.
Economics
An example of a modern democratic government commandeering resources is
a. the military draft b. government subsidizing agriculture c. government engaging in transfer payments d. government food stamps e. government tax refunds
Economics