If the foreign exchange rate is one dollar for 10 South African rand, then how many dollars are needed to purchase an item that costs 400 rand?
A) 10
B) 40
C) 400
D) 4,000
Answer: B
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In 2012, consumers in Dexter consumed only books and pens. The prices and quantities for 2012 and 2013 are listed in the table above. The reference base period for Dexter's CPI is 2012. What is the CPI in 2012?
A) 320 B) 1.00 C) 3.20 D) 100
Compare and contrast a general retail sales tax with a value added tax
What will be an ideal response?
Consider the following statement: "Real GDP and potential GDP are always equal." Is this statement true or false? Explain your answer
What will be an ideal response?
Increasing opportunity cost along a bowed-out production possibilities frontier occurs because
A) of inefficient production. B) of the scarcity of factors of production. C) of ineffective management by entrepreneurs. D) some factors of production are not equally suited to producing both goods or services.