Indirect quotations in terms of foreign currency refers to:
A) expressing exchange rates as units of foreign currency in terms of domestic currency
B) expressing exchange rates as units of domestic currency in terms of foreign currency
C) expressing exchange rates of less traded currency by using a "major" currency
D) expressing exchange rates in terms of commodities such as gold
A
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Use the above table. Assuming constant opportunity costs, the opportunity cost of producing coffee in country Alpha is ________, and the opportunity cost of producing coffee in country Beta is ________
A) 0.33 ton of cookies; 2 tons of cookies B) 3 tons of cookies; 0.5 ton of cookies C) 0.375 ton of coffee; 2.25 tons of cookies D) 2.67 tons of cookies; 0.44 ton of coffee
When GDP is less than total spending, GDP will fall
a. True b. False Indicate whether the statement is true or false
If the market price falls below a firm's minimum average total cost, the firm should:
A. consider how to minimize its losses. B. definitely stop production. C. pay only fixed costs. D. definitely continue to operate at a loss.
In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, planned investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. The slope of the expenditure line is:
A. 320. B. 290. C. 0.25. D. 0.75.