In a flexible exchange-rate system, the value of a currency is determined by
A) the government.
B) the intersection of the IS and LM curves.
C) the demand and supply for the currency in the foreign exchange market.
D) Swiss gnomes.
C
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In the figure above, if pizza production increases to 15,000 pizzas a day, then marginal benefit ________ marginal cost, and ________ occurs
A) exceeds; overproduction B) exceeds; underproduction C) is below; overproduction D) is below; underproduction E) exceeds; efficient production
Beverage Merger Cott Corp markets a portfolio of beverages, bottled waters, beverage, and coffee delivery systems for homes and offices. In November, 2014, it has agreed to merge with DS Services of America, a water and coffee direct-to-consumer services provider. What is the expected effect of this merger on price-cost margins?