Which of the following is true of the crises witnessed by the southeast Asian countries in the 1990s?
a. The crises were sparked by the conversion from a fixed exchange rate regime to a flexible exchange rate regime.
b. The crises occurred because among all countries, Malaysia owed the maximum short-term debt to foreigners.
c. The consumption of petroleum products grew at an uncontrolled rate in Indonesia.
d. Indonesia was the only country that owed a substantial long-term debt to the US.
e. The stock prices dropped by 26 percent in Korea and by 57 percent in Malaysia.
Question 2
Which of the following statements is true?
a. Externalities can never refer to costs borne by the seller.
b. Both external costs and external benefits can never exist for the same good.
c. Externalities can never lead to under-production of a specific good.
d. External benefits can never exceed external costs.
TrUe....FaLsE
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