If a U.S. dollar purchases 4 Argentinean pesos, and a gallon of milk costs $3 in the U.S. and 6 pesos in Argentina what is the real exchange rate?
a. 2
b. 3/2
c. 2/3
d. 1/2
a
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State and local income taxes should be deducted from federal income tax.
A. True B. False C. Uncertain
In the backward-bending portion of a labor supply curve: a. a worker will increase the quantity of labor supplied in response to an increase in the wage. b. the substitution effect of a wage change outweighs the income effect
c. the income effect of a wage change outweighs the substitution effect. d. the substitution effect of a wage change equals the income effect.
Which of the following is an example of trade policy at the regional level?
a. Congress passing legislation to prevent dumping. b. The European Union adopting a common currency c. The World Trade Organization holding a round of negotiations in France. d. The General Agreement on Tariffs and Trade being made.
Excess demand for a specific foreign currency, such as the pound, implies a
A. Capital account surplus for the United States. B. Capital account deficit for the United States. C. Balance-of-payments surplus for the United States. D. Balance-of-payments deficit for the United States.