If the exchange rate between the Russian ruble and the U.S. dollar is 33.3 rubles for $1, then how much is each ruble worth in U.S. dollars?
a) $0.03
b) $0.30
c) $0.33
d) $33.3
Ans: a) $0.03
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Refer to Figure 8A.1. When the economy reaches K, total saving is represented by point ________ and depreciation is represented by point ________
A) Y; e B) Y; Y C) e; e D) e; Y
An example of financial capital is
A) bonds. B) computers. C) the talents of a highly paid movie star. D) machines. E) buildings.
You would expect that your firm is experiencing a constant returns to scale if
a. Long run average costs increase with output b. Long run average costs decrease with output c. Long run average costs are constant with respect to output d. None of the above
Figure 5-1
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Figure 5-1 plots potential and real output for a hypothetical economy. Based on this graph, the recession occurred
A. between years 1 and 2. B. between years 2 and 3. C. between years 3 and 4. D. after year 4.