The exchange rate is the
A) opportunity cost of pursuing a nation's comparative advantage.
B) price of one country's currency expressed in terms of another country's currency.
C) ratio between imports and exports.
D) interest rate that is charged on risk-free international capital flow.
B
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Refer to the figure above. If the engineer spends his entire time on producing websites, how many Web sites can he produce?
A) 2 B) 5 C) 10 D) 12
The international trade response to a contractionary monetary policy will cause aggregate demand to shift ____ and aggregate supply to shift ____.
A. outward; outward B. inward; outward C. outward; inward D. inward; inward
If the tax on a good is tripled, the deadweight loss of the tax
a. remains constant. b. triples. c. increases by a factor of 9. d. increases by a factor of 12.
An extremely deep and long period of negative economic growth is most accurately called:
a) Deflation. b) Inflation. c) A recession. d) A depression.