The exchange rate is the:
a) cost of borrowing money.
b) interest rate that banks charge their best customers.
c) rate at which one currency can be exchanged for another.
d) amount of gold backing a U.S. dollar.
Ans: c) rate at which one currency can be exchanged for another.
You might also like to view...
Which of the following is a possible consequence if a contractionary monetary policy is adopted?
A) The demand for labor will increase. B) The aggregate price level will rise. C) Real output will increase if nominal wages are fixed. D) Real wages will increase if nominal wages are fixed.
The above table gives some of Tammy's total and marginal utilities from comedy videos. Which of the following statements is TRUE?
A) Tammy's marginal utility from the third comedy video is equal to 580/3. B) Tammy's total utility from five comedy videos is 800. C) Tammy's marginal utility from the first comedy video is less than her marginal utility from the third comedy video. D) None of the above answers are correct.
Indifference curves that are closest to the origin are preferable to ones that are farther from the origin
a. True b. False Indicate whether the statement is true or false
For a worker, the opportunity cost of an hour of leisure
a. rises by $8 when his wage rises by $8 per hour. b. falls by $8 when his wage rises by $8 per hour. c. is the same for a celebrity talk-show host as it is for a teacher. d. is determined by factors that are unrelated to his hourly wage.