A nominal, bilateral exchange rate is:
a. The weighted-average value of a currency relative to many foreign currencies.
b. The nominal, effective exchange rate adjusted for a nation's price level relative to many foreign countries' prices.
c. The same as the nominal, effective exchange rate.
d. The value of one currency in terms of another currency.
.D
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National income equals gross domestic product
A) minus the consumption of fixed capital. B) minus government transfer payments. C) plus government transfer payments. D) plus sales taxes.
Government can increase Long-Run economy growth by encouraging
A. Conservation of resources B. Consumption C. Spending D. Saving and Investing E. None
Which of the following account for the largest portion of state and local government receipts?
A) Individual income taxes B) Corporate income taxes C) Miscellaneous taxes and fees D) Property taxes
If purchasing-power parity holds, when a country's central bank increases the money supply, its
a. price level rises and its currency appreciates relative to other currencies in the world. b. price level rises and its currency depreciates relative to other currencies in the world. c. price level falls and its currency appreciates relative to other currencies in the world. d. price level falls and its currency depreciates relative to other currencies in the world.