If a box of Swiss chocolate priced at 100 francs can be purchased for $50, the exchange rate is:
A. 0.50 francs per dollar.
B. 4.00 francs per dollar.
C. 0.50 dollars per franc.
D. 4.00 dollars per franc.
Answer: C
You might also like to view...
Which of the following activities is excluded from GDP, causing GDP to understate a nation's production?
A. The services of health care workers B. The services of military personnel C. Goods and services produced in the underground economy D. The construction of new buildings
Provisions in the budget that cause government spending to rise or taxes to fall without legislation when GDP falls are known as
A) primary deficit enhancers. B) expansionary fiscal stimulus. C) non-political fiscal policy. D) automatic stabilizers.
Phillips developed a curve that shows the trade-off between the
A. Natural rate of unemployment and exchange rates. B. Unemployment rate and inflation rates. C. Full employment rate and interest rates. D. Full employment rate and the natural rate of unemployment.
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the short run would be:
A. P1 and Y2. B. P3 and Y1. C. P2 and Y2. D. P2 and Y3.