Purchasing power parity determines the exchange rate in
A) the short run.
B) nations that do not allow their exchange rate to fluctuate.
C) the long run.
D) the long run and the short run.
E) theory only, but not in reality.
C
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Resource use is allocative efficient
A) when it is not possible to produce more of one good. B) when we produce goods and services that we value most highly. C) when most resources are fully employed. D) at any point on the PPF. E) at all points either on or within the PPF because all these production points are attainable.
Which of the following would most likely be provided by a natural monopoly?
A) Michigan Radio is the state's most listened-to public radio service. B) Sirius Satellite Radio is accessed through a subscription. C) X96 is an alternative radio station out of Salt Lake City. D) a Mariah Carey CD