Using the above figure, which of the following is CORRECT?
A) 1 guilder will sell for $2.
B) 1 dollar will sell for 1/2 guilder.
C) A shortage of guilders exists at an exchange rate above $0.60.
D) A surplus of guilders exists at an exchange rate above $0.60.
D
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What assumptions lead to the conclusion that that the allocation of resources among firms is efficient
What will be an ideal response?
During the 1990s, food production increased faster than population in all regions of the developing world except
(a) Latin America. (b) East Asia. (c) Sub-Saharan Africa. (d) none of the above.
The price of bonds and the interest rate are
a) positively related b) negatively related c) sometimes positively related and other times negatively related, depending on the bond payments d) not related
A firm will earn economic profits whenever:
A. Marginal revenue exceeds marginal costs B. Marginal revenue exceeds variable costs C. Average revenue exceeds average total costs D. Average revenue exceeds average variable costs