Suppose the Euros per U.S. dollar exchange rate is 2 . The aggregate price level in France is 100, and the aggregate price level in the United States is 125 . The real exchange rate between the two countries is _____
a. 2.5
b. 2
c. 1.6
d. 2.4
a
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Refer to the table above. What is the market demand for wine when the price is $3?
A) 50 units B) 35 units C) 66 units D) 28 units
Suppose that a firm earned $500,000 in total revenue. At the same time, it incurred labor costs of $200,000; economic depreciation of $50,000; normal profit of $75,000; interest paid to the bank of $25,000; and used other factors of production that
cost $100,000. The economic profit earned by the firm equals A) $275,000. B) $175,000. C) $50,000. D) $200,000. E) $500,000.
Human capital is
a. money used by an entrepreneur to build a business b. another expression for slave labor c. a concept used by sociologists but not economists d. knowledge and skills acquired through education and training e. a robot
If U.S. consumers decrease their demand for cell phones from Finland, then other things the same Finland's
a. exports and net exports fall. b. exports fall and net exports rise. c. imports and net exports fall. d. imports fall and net exports rise.