________________ —a term describing a tool that economists use to determine the effect of an economic event on equilibrium price and quantity.
a. Equilibrium price
b. The four-step process
c. Demand schedule
d. Supply schedule
b. The four-step process
Economics
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Explain the concept of diminishing returns
What will be an ideal response?
Economics
The government of country A has decided to maintain an exchange rate of 1 unit of its currency for 6 U.S. dollars in the long run. Country A can be said to have a:
A) managed exchange rate system. B) fully flexible exchange rate system. C) nominal exchange rate system. D) fixed exchange rate system.
Economics