The following table provides nominal exchange rates for the U.S. dollar.CountryForeign currency/dollarDollar/foreign currencySwitzerland (franc)1.7300.578Brazil (real)1.8210.549 Based on these data, the nominal exchange rate equals approximately ________ reals per Swiss franc or, equivalently, ________ Swiss francs per real.
A. 0.950; 1.053
B. 1.053; 0.950
C. 3.551; 0.282
D. 0.282; 3.551
Answer: B
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A barter economy
A) cannot be a market economy. B) is an economy without monetary exchange. C) is an economy with no business firms. D) is not a competitive economy.
If a "liberal" wanted to increase aggregate demand, which of the following would she tend to favor?
a. An increase in government spending, because it will increase the size of the public sector. b. A decrease in transfer payments, because it keeps the public sector small. c. An increase in transfer payments, because it has a larger multiplier than tax changes. d. A decrease in taxes, because it makes the public sector smaller.
Which of the following is true of perfect price discrimination?
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The labor supply curve is fundamentally a representation of the trade-off people face between which of the following?
a. work and wages b. work and leisure c. wages and productivity d. technology and wages