Monopolistic competition is a market structure characterized by many small firms selling a homogeneous product.
a. True
b. False
Indicate whether the statement is true or false
Question 2
What is a currency board?
a. A fixed exchange rate that, by law, exchanges domestic currency for a specified foreign currency at a fixed exchange rate.
b. A floating exchange rate.
c. A managed floating exchange-rate policy that the government adjusts periodically according to some economic indicator.
d. A laissez-faire exchange-rate policy.
e. An interventionist exchange-rate policy.