Foreign exchange rates are
A. price at which purchases and sales of foreign goods take place.
B. movement of goods and services from one country to another.
C. the price of one currency in terms of a second currency.
D. differences between exports and imports.
C. the price of one currency in terms of a second currency.
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Which of the following is correct?
a. Economic development is more quantitative than economic growth. b. A country cannot achieve economic growth with a limited base of natural resources. c. Infrastructure is capital provided by the private sector. d. All of the above are true. e. All of the above are false.
Coins and paper bills used as money:
a. currency b. commodity money c. representative money d. fiat money
Taiwan exports tools to the United States. Consumers in Taiwan will probably pay a(n) ________ price for tools with free trade than they would with a closed economy.
A. somewhat lower B. lower C. higher D. more fair
To maximize profits, a firm should expand production as long as it is making profits.
Answer the following statement true (T) or false (F)