The price of domestic goods in terms of foreign goods is referred to as
A) the nominal exchange rate. B) the relative inflation rate.
C) the real exchange rate. D) the current account balance.
C
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When a good is nonexcludable, then individuals
A. will purchase the good for less than it cost to produce. B. can obtain the benefits of the good without paying for it. C. have an incentive to become free riders. D. will purchase more than the optimum amount. E. b and c
If a European billionaire buys stock in General Motors, then the purchase will be recorded in the:
A. European financial and capital account. B. European current account. C. U.S. government financial account. D. U.S. current account.
A monopoly realizes larger profits than a comparable competitive market by
A. Reducing production and pushing prices up. B. Producing a greater quantity at the competitive price, thereby increasing profits. C. Producing at output levels with more favorable cost structures and charging the competitive market price, thereby increasing profits per unit. D. Setting a higher price at the competitive level of output, thereby increasing total revenue.
Some goods have become less expensive due to
A. GDP growth. B. government regulation. C. government deregulation. D. globalization and technology.