Suppose that the price of an ounce of gold is 120 pesos in Mexico and 2,400 yen in Japan. Then the Japanese yen is worth two hundred times the value of a Mexican peso
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
In the model of the money supply process, the Federal Reserve's role in influencing the money supply is represented by
A) both the required reserve ratio and the market interest rate. B) the required reserve ratio, nonborrowed reserves, and borrowed reserves. C) only borrowed reserves. D) only nonborrowed reserves.
Discuss the problems associated with the imposition of capital controls
What will be an ideal response?
Assume Dell Computer CompanyTM operates in a perfectly competitive market producing 5,000 computers per day. At this output level, price exceeds this firm's marginal cost. It follows that producing one more computer will cause this firm's
A) total cost to decrease. B) profits to increase. C) profits to decrease. D) profits to remain unchanged.
The statement that the minimum wage needs to be increased is a:
A) positive statement. B) normative statement. C) condition contained in the fallacy of false cause. D) scientific conclusion based on marginal analysis.