An equilibrium in which each firm in an oligopoly maximizes profit, given the actions of its rivals, is called

If the exchange rate (dollars per unit of foreign currency) has increased, we say there has been a(n)

a. appreciation of the foreign currency b. depreciation of the foreign currency c. revaluation of the foreign currency d. devaluation of the foreign currency e. fixing of the foreign currency

Contractionary monetary policy refers to an insurance system that makes sure depositors in a bank do not lose their money, even if the bank goes bankrupt

a. True b. False Indicate whether the statement is true or false