Suppose that the current exchange rate between the dollar and peso is $1 equals 10 pesos. If a firm in Mexico wanted to purchase $100,000 worth of U.S. televisions, how many pesos must they exchange?
A. 100,000 pesos
B. 1,000,000 pesos
C. 10,000 pesos
D. 11,000,000 pesos
Answer: B
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Which of the following will not increase a nation's real GDP?
A. number of workers B. average price level C. technological progress D. labor productivity
Which of the following statements is correct for the price elasticity of demand along a linear, downward-sloping demand curve?
A) The price elasticity of demand is constant because the slope is constant. B) At low prices, demand is elastic but at high prices demand is inelastic. C) At high prices, demand is elastic but at low prices demand is inelastic. D) The price elasticity of demand is not defined for a linear demand curve because the slope is constant. E) None of the above answers is correct.
What constitutes meaningful independence of a central bank?
What will be an ideal response?
According to the graph shown, if this economy was to engage in free trade, the good would:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. be imported.
B. be exported.
C. no longer be produced domestically.
D. not be imported or exported and only be produced domestically.