Suppose a U.S.-made machine costs $500 and the exchange rate is 100 yen = $1. A Japanese citizen purchasing this machine would pay:
A. 500 yen.
B. 5,000 yen.
C. 10,000 yen.
D. 50,000 yen.
Answer: D
You might also like to view...
The cross elasticity between two goods is 2.5 . These goods are:
a. perfect complements. b. imperfect complements. c. unrelated. d. substitutes. e. inferior.
The income that people earn in resource or factor markets is called:
a. national income. b. personal income. c. disposable personal income. d. transfer payments. e. net national product.
One way the government can boost the economy out of a recession is:
A. with public announcements telling the public to save their money. B. by increasing government spending. C. by setting price ceilings on most goods so people can afford them. D. None of these will help an economy in recession.
The above figure shows the marginal benefits and marginal costs of a college education. If no subsidies are paid, colleges charge tuition of
A) $0. B) $5,000. C) $10,000. D) $15,000.