Purchasing-power parity implies that the nominal exchange rate given as foreign currency per unit of U.S. currency must rise if the price level(s) in
a. foreign countries rise.
b. the United States rises.
c. all countries rise.
d. all countries fall.
a
You might also like to view...
If the two goods in an Edgeworth Box are perfect complements for both people, all efficient allocations will have each person getting the same amount of good 1 as of good 2.
Answer the following statement true (T) or false (F)
The economist who proposed that, "Inflation is always and everywhere a monetary phenomenon" was
A) John Maynard Keynes. B) John R. Hicks. C) Milton Friedman. D) Franco Modigliani.
Microeconomics is the study of
A) aggregate measures of the economy. B) foreign policy economic issues. C) federal budget details. D) individual decision making.
Chris had a before-tax income of $20,000 and paid taxes of $3,000 . Pat had a before-tax income of $10,000 and paid taxes of $1,000 . Based on this information, which of the following is correct?
a. the tax system is regressive b. the tax system is proportional c. the tax system is progressive d. the tax system is based on the benefits received e. there is insufficient information to answer the question