If 1 U.S. dollar exchanges for 3.98 Polish zlotys, how much would it cost in zloty to purchase a Ford Explorer priced at $23,000?
What will be an ideal response?
23,000 x 3.98 = 91,540 zlotys
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The Snowshoe Inn in Vermont charges $259 per room during the winter ski season and $149 during the summer months. The number of rooms available and the operating costs for the inn remain constant throughout the year. What is indicated by these prices?
A. The demand curve shifts out in the summer. B. The demand curve shifts out during the winter months. C. The supply curve shift in during the summer. D. There is a decrease in demand during the winter.
The following table shows the percentage of income received by quintile. In the graph below, draw a Lorenz curve using the before taxes and transfer data and a Lorenz curve for the after taxes and transfer data. Label the Lorenz curves and each axis of
the graph.
The multiplier will be greater, other things being equal: a. the smaller the fraction of each dollar earned that goes to taxes
b. the larger the MPC. c. the smaller the fraction of each dollar of disposable income that goes to saving. d. all of the above are true.
According to the theory of rational expectations,
a. workers' experience tells them that government action to lower unemployment will not affect inflation b. consumers and investors generally behave so that rationally formed government attempts to stimulate aggregate demand have their desired effects c. policy goals can be achieved more easily in the short run than in the long run d. workers' wage demands include anticipated inflation e. expansionary monetary policy will lead to permanent interest rate declines