Which of the following exchange rates between the dollar and the peso would an American buyer of Mexican goods most prefer?
A) $0.10 = 1 peso
B) $0.08 = 1 peso
C) $0.06 = 1 peso
D) $0.04 = 1 peso
D
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Economists consider profit to be
A) a cost of producing goods and services. B) something that should be eliminated by antitrust laws. C) the same as a salary. D) a reward for incurring losses.
The ultimate goal is ____________ which is a form of growth wherein societal needs, present and future, are met
a. Sustainable development b. Carbon footprint c. Ecological footprint d. Planned land use development
A movement along the consumption function is caused by a change in:
a. the price level. b. autonomous consumption. c. real disposable income. d. the stock of durable goods.
Assume that a firm is producing an output level such that marginal revenue equals marginal cost. One can correctly conclude that the firm is producing a level of output which is:
a. equal to the profit maximizing level of output. b. equal to revenue maximizing level of output. c. less than the profit maximizing level of output. d. zero. e. greater than the profit maximizing level of output.