If the foreign exchange rate for 1 Hungarian forint is 0.5 cent, then
A) a dinner priced at 400 forints will cost $20.
B) a wine that sells for 600 forints will cost $3,000.
C) a Big Mac hamburger priced at 50 forints will cost $1.
D) a hotel room renting for 40,000 forints will cost $200.
D
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The critical determinant of real GDP per capita is
A) the size of the labor force. B) labor productivity. C) the population. D) the size of the working-age population.
According to game theorists, a cartel of several firms is an example of a(n)
A) zero-sum game. B) uncooperative game. C) cooperative game. D) noncooperative game.
In the AS/AD model, as the price level falls, the holders of money become richer and buy more. This is one reason why the aggregate demand curve is downward sloping.
Answer the following statement true (T) or false (F)
The level of U.S. exports depends ________ the level of income in other countries.
A. indirectly on B. directly on C. entirely on D. inversely with