The value of a country's currency, in terms of some other country's currency, is called
A. the exchange rate.
B. the stock exchange.
C. the nominal interest rate.
D. dollarization.
Answer: A
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"The market basket used to calculate the CPI is revised monthly to more accurately depict consumers' choices. The price data for the CPI are collected every month." Are the previous sentences true or false?
What will be an ideal response?
Monopolistically competitive firms can achieve product differentiation through:
A. creating a truly different product. B. creating the perception of differences in their product. C. creating a product that cannot be easily substituted with a rival's product. D. All of these statements are true.
The Standard & Poor's 500 Index differs from the Dow Jones Industrial Index because:
A. it is a price-weighted index, where the DJIA is a value-weighted index. B. it takes into account the prices of more stocks and it uses a different weighting scheme. C. larger firms are less important in the S&P 500 than in the DJIA D. it takes into account the stock prices of 500 of the largest firms, which is less than the DJIA
The demand for a good is elastic. Which of the following would be the most likely explanation for this?
A. The time interval considered is short. B. The good is a necessity. C. The good is broadly defined. D. The good costs a large portion of one's total income.