The intersection between demand of US dollar and the supply of US dollar is known as
a. Inflation rate
b. Exchange rate
c. Price
d. Quantity
b
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In the long run, a perfectly competitive firm can make an economic profit because its marginal cost equals its average total cost
Indicate whether the statement is true or false
The newest fixed exchange rate system is the
A) European Monetary System. B) euro in the European Union countries. C) Bretton Woods system. D) gold standard.
William Nordhaus' depletion hypothesis
A) is an attempt to explain the drop in the multifactor productivity growth rate between 1913 and 1964. B) suggests that depletion of natural resources may explain part of the drop in multifactor productivity growth. C) suggests that a drop in the rate at which new inventions are made may explain part of the drop in multifactor productivity. D) B and C E) all of the above
Which one of the following statements is true?
a. Resources flow from the government to households. b. Resources flow from firms to households. c. Taxes flow from firms to the government. d. Resource payments flow from firms to households e. Imports flow from firms to foreign economies.