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For market equilibrium to generate the largest possible surplus and thus be efficient, which condition(s)must be met?
a. Marginal benefit must be greater than marginal cost.
b. Marginal benefit must be less than marginal cost.
c. Marginal benefit must be equal to marginal cost.
d. Total producer surplus must be minimized.
e. Total consumer surplus must be maximized.
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If the U.S. economy is operating near full employment and the exhange rate increases(the dollar appreciates),
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Large-scale wars typically bring a suspension of international trading and financial activities. Exchange rates lose much of their relevance under these conditions, but once the war is over, governments wishing to fix exchange rates face the probl..
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