If the foreign exchange rate is 70 cents for one Swiss franc, then
A) a car that costs 40,000 francs will cost $7,143.00.
B) a wine that costs 200 francs will cost $14.00.
C) a clock that costs 500 francs will cost $350.00.
D) a house that costs 100,000 francs will cost $700,000.00.
Answer: C
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The asset demand for money is related to the function of money called
A) medium of exchange. B) standard of deferred payment. C) store of value. D) unit of account.
The Romer model is distinct from the Solow model in that the former assumes that ________
A) technology is fixed B) an increase in price affects quantity demanded, rather than demand C) some labor is devoted to producing new technology D) output per worker is fixed
Output per person on a country level is another way to think about:
A. real GDP per capita. B. nominal GDP. C. productivity. D. GDP growth rates.
The United States has done very poorly at the high end of the value-added chain.
Answer the following statement true (T) or false (F)