A dual economy is characterized by:
a. rapid productivity growth in both the agricultural sector and the manufacturing sector.
b. uneven development trends in two economic sectors.
c. drastic differences in regional work ethics.
d. the nonexistence of the government and foreign trade sectors.
e. a manufacturing sector that does not depend on natural resource supplies for production.
b
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Which of the following events must cause equilibrium quantity to fall?
a. demand increases and supply decreases b. demand and supply both decrease c. demand decreases and supply increases d. demand and supply both increase
An alternative to maintaining an undervalued currency is to ________ the fundamental value of the exchange rate by ________ monetary policy.
A. decrease; easing B. increase; easing C. increase; tightening D. decrease; tightening