Suppose that your firm wants to import sugarcane from Brazil. The exchange rate is 3 Brazilian reals per U.S. dollar and sugarcane costs 36 reals per ton. How much is a ton of sugarcane in U.S. dollars?
A) $12
B) $39
C) $108
D) $109
A
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A firm hires labor up to the point where the
A) real wage rate equals the nominal wage rate. B) real wage rate exceeds the nominal wage rate. C) additional hour of labor produces extra output that equals the real wage rate. D) additional hour of labor produces extra output that equals the nominal wage rate. E) firm can sell the extra output.
If a contractionary monetary policy lowers the price level by more than expected, it raises the real value of consumer debt. This reduces consumer expenditure through
A) the bank lending channel. B) Tobin's q. C) the traditional interest-rate channel. D) the household liquidity effect.
Which of the following is considered by experts to have relatively little power within the Federal Reserve?
A) The Board of Governors B) The president of the New York Federal Reserve Bank C) The economic staff of the Board of Governors D) The Federal Advisory Council
The marginal productivity theory is irrelevant to organizing production in a socialist society.
Answer the following statement true (T) or false (F)