The purchasing power parity theory usually does not explain exchange rates at a particular point in time because of trade barriers, central bank intervention in exchange markets, and the fact that many products are not traded or are not comparable across countries
Indicate whether the statement is true or false
true
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The impact of a $200 increase in income on quantity demanded would be called an income effect
a. True b. False
Marginal social cost is equal to
a. total private cost b. marginal private cost c. marginal external cost d. marginal private cost plus marginal external cost e. marginal private cost divided by marginal external cost
Physical capital is:
A. the stock of equipment and structures that allow for the production of goods and services. B. the skills a human being acquires that enhances the available stock of equipment. C. the set of skills, knowledge, experience, and talent that determine the productivity of workers. D. All of these describe physical capital.
Michal Levhari lost her job when Intel closed its local plant. She has been visiting the personnel offices of the other factories in the area, looking for a new job. She is regarded as being
a. a member of the labor force who is theoretically employed b. a member of the labor force who is unemployed c. a member of the labor force who is underemployed d. a discouraged worker who is not a member of the labor force e. not a member of the labor force