You're traveling in Ireland and are thinking about buying a new digital camera. You've decided you'd be willing to pay $125 for a new camera, but cameras in Ireland are all priced in euros. If the exchange rate is 0.85 euros per dollar, what's the
highest price in euros you'd be willing to pay for a camera?
A) 105 euros
B) 106.25 euros
C) 110.15 euros
D) 147 euros
Answer: B
You might also like to view...
In general, the supply curve for a natural resource
A) slopes upward. B) slopes downward to reflect decreasing available quantities over time. C) is horizontal. D) is vertical.
Absorption refers to
A) the total amount of imports purchased by a country. B) the net amount of imports purchased by a country. C) total spending by domestic residents, businesses, and governments. D) GDP less desired consumption, desired investment, and government purchases.
In the United States, the main contributor to economic growth is due to the growth in
A. labor resources. B. physical capital. C. land. D. foreign capital.
Which of the following is true of a competitive market? a. The rules of supply and demand do not apply to it
b. Buyers and sellers have little market power. c. Each buyer's or seller's effect on market price is substantial. d. Few sellers offer similar products.