The real, bilateral exchange rate is the:
a. Weighted-average value of a currency relative to many foreign currencies.
b. Value of one currency in terms of another currency.
c. Nominal, bilateral exchange rate adjusted for the international price levels of the two countries.
d. Nominal, effective exchange rate adjusted for a nation's price level relative to many foreign countries' prices.
.C
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When jobs are easy to find, wage increases are frequently given, and businesses are doing well, the economy is most likely in a(n):
A. expansion. B. surplus. C. depression. D. recession.
The figure above shows the U.S. demand and U.S. supply curves for cherries. At a world price of $2 per pound, the total imports of cherries to the United States from other nations equals
A) 200,000 pounds. B) 400,000 pounds. C) 600,000 pounds. D) 800,000 pounds. E) 0 pounds.
Which of the following is not an argument in favor of restricting trade??
What will be an ideal response?
A public utility is a classic example of:
A. a natural monopoly. B. perfect competition. C. an oligopoly. D. monopolistic competition.