Refer to the figure above. The relative price of S (in terms of T) is
A) 2.
B) 1/2.
C) 500.
D) 1000.
B
You might also like to view...
The currency adopted by most countries in Western Europe is referred to as the
A) euro. B) pound. C) Eurodollar. D) yen.
The Arrow impossibility theorem
A) explains why it is impossible, in most cases, to eliminate special-interest legislation after it has become law. B) explains why people can be rational as well as ignorant at the same time. C) explains why candidates for public office must represent the preferences of the political middle. D) explains why voting systems do not consistently represent the preferences of voters.
Except for recessions, the duration of unemployment for the typical person lasts
A) less than six months. B) six to nine months. C) over nine months. D) over one year. E) over five years.
The foreign exchange market is
A) a market in which exchange rates are allowed to fluctuate in the open market in response to changes in supply and demand. B) the increase in the exchange value of one nation's currency in terms of an other nation. C) a market in which households, firms, and governments buy and sell national currencies. D) the decrease in the exchange value of one nation's currency in terms of another nation.