The exchange rate is the
a. ratio of exports to imports
b. interest rate the U.S. government charges on international transactions
c. pricing policy of goods scheduled for export
d. price of one nation's currency in terms of another nation's currency
e. price that central banks charge each other for currency exchanges
D
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The principal-agent problem arises because the agent's objectives differ from those of the principal
a. True b. False
At the end of 2014, the net national debt per person in the United States was approximately
a. $14 trillion. b. $142 billion. c. $56,000. d. $86,000.
If there is an improvement in the technology used to produce a good, then the supply curve for that good will shift to the left
a. True b. False Indicate whether the statement is true or false
Suppose that a college professor is creating an exam in her university office. Which of the following would be an example of a factor of production used by the professor? (i) the professor's time (ii) a computer software program into which the professor types the exam questions (iii) the physical space of the professors office where she works when creating the exam (iv) the interest on the
professor's home mortgage a. (i) only b. (i) and (ii) only c. (i), (ii), and (iii) only d. (i), (ii), (iii), and (iv)