The following are hypothetical exchange rates: $1 = 140 yen; 1 Swiss franc = $0.10. We can conclude that ________.
A. 1 yen = 14 Swiss francs
B. 1 yen = 280 Swiss francs
C. 1 Swiss franc = 14 yen
D. 1 Swiss franc = 28 yen
Answer: C
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All the decisions made by people who operate firms have one overriding objective, which is to ________
A) make maximum attainable profit B) maximize the firm's total revenue C) maximize the firm's market share D) maximize the quantity that the firm sells
Which of the following statements is true?
a. A tariff is a physical limit on the quantity of a good allowed to enter a country. b. An embargo is a tax on an imported good. c. A quota is a law that bars trade with another country. d. When a nation exports more than it imports it is running a balance of trade surplus.
The current federal tax structure has ______ tax brackets.
A. 5 B. 6 C. 7 D. 8
The market demand curve for labor is the relationship between the wage and the quantity of labor that:
A. all workers are willing to provide. B. any given worker is willing to provide. C. all firms are willing to employ. D. any given firm is willing to employ.