If the U.S. dollar price of the New Zealand dollar (NZD) is $0.5709, then the NZD price of one U.S. dollar will be:
a. 1.5709 NZD.
b. 1.75 NZD.
c. 1.6711 NZD.
d. 0.5709 NZD.
e. 1.75 NZD.
b
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There are five hundred buyers in the market for cheese. If we know each individual's demand curves, to find the market demand, we must
A) multiply the price times quantity for each buyer and then add the resulting products together. B) add the quantities that each buyer will purchase at every price. C) add the prices that each buyer will pay at every quantity. D) average the price each buyer is willing to pay for each given quantity. E) give up because there is no way to find the market demand.
_____ believe that a government that takes an active role in the economy may do more harm than good because economic policy operates with a long and variable lag
a. Traditional Keynesians b. Keynesians c. Monetarists d. Classical economists e. New classical economists
A firm will shut down in the short run if, for all positive levels of output,
a. its losses exceed its fixed costs. b. its total revenue is less than its variable costs. c. the price of its product is less than its average variable cost. d. All of the above are correct.
Which one of these groups is counted among the unemployed?
A. Discouraged workers B. People collecting unemployment benefits C. People working part time D. People out of the labor force