For the tragedy of the commons to occur, property rights must be clearly defined and enforced

If a country wants to keep its exchange rate fixed, it must

A) allow its currency value to vary with market supply and demand in foreign exchange markets. B) be a member of the IMF. C) vary the amount of its national currency supplied at any given exchange rate in foreign exchange markets when necessary. D) eliminate its foreign exchange reserves.

In perfect competition, each firm's output is a large fraction of total market supply

a. True b. False