If one Mexican peso was worth 0.05 U.S. dollar, then one U.S. dollar would be worth:
a. 20 U.S. dollars.
b. 20 Mexican pesos.
c. 2 Mexican pesos.
d. 0.05 Mexican pesos.
e. 1 Mexican peso.
.B
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A) Kennedy Round B) Tokyo Round C) Uruguay Round D) Dillon Round E) NAFTA Round
A recessionary gap exists when the equilibrium level of GDP exceeds potential GDP
a. True b. False Indicate whether the statement is true or false
Compared to other investments such as bonds, historically a diverse set of stocks held over a lengthy time period (for example, 30 or 40 years) has yielded a
a. low average real rate of return, and the variation in that return has been extremely high. b. high average real rate of return, and the variation in that return has been relatively small. c. low average real rate of return, and the variation in that return has been relatively small. d. high average real rate of return, and the variation in that return has been extremely high.
A firm in a monopolistically competitive market can earn both short-run and long-run profits
a. True b. False Indicate whether the statement is true or false