John wants to buy a new lawn mower. He can either buy it in the US and pay $500 or buy it in Mexico and pay 8188 Mexican Pesos. At the exchange rate of 1 Mexican Peso=0.771US$, ignoring any other costs, he would
a. Prefer buying in the US
b. Prefer buying in Mexico
c. Be indifferent about where he buys his television
d. None of the above
a
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How did maintaining the gold standard deepen the severity of the Great Depression?
What will be an ideal response?
What are the earnings of a resource with a perfectly elastic supply curve called?
a. Transfer earnings b. Dividends c. Economic rent d. Capital gain e. Interest
Which of the following is NOT included in M1?
A) deposits in checking accounts B) deposits in checking accounts that pay interest C) savings accounts D) traveler's checks
Refer to Table 3-1. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. At a price of $6, the quantity demanded in the market would be
A) 36 lbs. B) 68 lbs. C) 89 lbs. D) 123 lbs.