According to the theory of purchasing power parity, the real exchange rate between two currencies will equal ________ in the long run.
A. 1
B. the ratio of the rates of inflation of the two currencies
C. the nominal exchange rate
D. 0
Answer: A
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If the median voter voted against a project, we can infer that
A) at least half of the voters also voted against it. B) at most a third of the voters voted against the project. C) the project was approved. D) at least half of the voters voted in favor of the project.
The fungibility of money means that
A. the categories people create to organize their expenditures are meaningless in financial terms. B. people often create false distinctions between categories of debt. C. thinking large, one-time expenses should be paid off over a period of time, while everyday expenses should come out of your checking account, is irrational. D. All of these statements are true.
Puerta Vallarta International Airport is near the coast. At night planes take off and land from the west, over the water. During the day planes approach and leave from the east, over Puerta Vallarta neighborhoods. Night flights into and out of Puerta Vallarta are more dangerous than day flights. Which rights are in conflict in this situation?
a. residents' right to enjoy the ocean and their right to peace and quiet b. residents' right to enjoy the ocean and air passengers' right to enjoy the ocean c. residents' right to peace and quiet and air passengers' right to safety d. residents' right to peace and quiet and safety e. air passengers' right to safety and convenience
An economic model is defined as:
a. a value judgment. b. a presentation of all possible relevant real-world variables. c. a simplified representation of the way in which facts are related. d. data adjusted for irrational actions.