If a toy costs 30 yuan in China, how much will it cost in dollars, if the exchange rate is 6 yuan per dollar?
What will be an ideal response?
The cost of the toy in dollars would be 30/6 = $5.
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Solving a moral hazard problem in a transaction would benefit
a. The seller only b. The buyer only c. Both the parties d. None of the parties
Which of the following best describes the reason for studying economics?
a. Studying economics helps individuals, businesses, and governments make the best decisions. b. Studying economics helps individuals, businesses and governments understand the financial problems facing the world today. c. Studying economics gives businesses and governments the answers to economic problems. d. Studying economics only helps governments understand the major problems facing the world today.
What are the three goals of the Employment Act of 1946?
A. full employment, better schools, and lower income taxes B. keep the peace, improve public education, and protect the environment C. full employment, price stability, and economic growth D. improve the education system, provide more job training, and expand the number of government jobs
The graph shown best represents:
A. a missing market. B. a binding price floor. C. a market for an inferior good. D. a binding price ceiling.