If 1 U.S. dollar exchanges for 7.0 Chinese Yuan, how much would it cost in U.S. dollars and cents to purchase a Chinese toy priced at 140 Yuan?
What will be an ideal response?
140 ÷ 7.0 = $20.00
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If both nominal and real GDP are increasing when the money supply is constant, than we can conclude that
A) velocity has increased. B) interest rate has fallen. C) velocity has decreased. D) interest rate has increased.
If the Fed increases the money supply, the equilibrium value of money decreases and the equilibrium price level increases
a. True b. False Indicate whether the statement is true or false
The domestic demand and supply for sugar are Qd = 40,000 ? 200P and QSD = 10,000 + 300P. The foreign supply is QSF = 20,000 + 100P. What is the domestic market price of sugar?
A. 18.3 B. 15.0 C. 12.3 D. 16.7
"The rich should pay higher income tax rates than the poor" is an example of a
A) normative statement. B) positive statement. C) descriptive statement. D) theoretical statement.