The purpose of the IMF is to
a. make short-term loans to countries facing balance of payments problems
b. help governments combat their inflation
c. fix exchange rates
d. administer the foreign exchange market
e. buy and sell IMF bonds to keep the world's currencies in equilibrium
A
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Suppose a monopolist's demand curve is P = 60 - Q, and its cost function is C = 10Q + 50 so its marginal cost is 10
If a governmental agency wished to set the price so that it created the smallest deadweight loss without causing the monopolist to have negative economic profits (thus shutting down), that price would be A) $10.00. B) $11.02. C) $14.57. D) $35.00.
All of the following are true regarding the relationship between price elasticity of demand and total revenues EXCEPT
A) when market demand is elastic, if the market price declines, then total revenues will rise. B) when market demand is unit elastic, if the market price rises, then total revenues will not change. C) when market demand is inelastic, if the market price falls, then total revenues will decrease. D) when market demand is inelastic, if the market price rises, then total revenues will decrease.