If $1 is worth 10 yen, then 1 yen is worth:
A. $1.00.
B. $0.01.
C. $1.10.
D. $0.10.
Answer: D
You might also like to view...
Jim has the following assets and liabilities:Credit Card balance$2,000Cash$500Government bonds$2,000Checking$750Car loan balance$5,000Car$15,000Which of the following actions would increase Jim's money demand by $200?
A. Jim pays $200 cash for a new lamp. B. Jim gets a $200 cash advance on his credit card and puts the proceeds in his checking account. C. Jim writes a check for $200 to pay down his credit card balance. D. Jim writes a check for $200 to pay down her car loan balance.
If you expect the inflation rate to be 15 percent next year and a one-year bond has a yield to maturity of 7 percent, then the real interest rate on this bond is
A) 7 percent. B) 22 percent. C) -15 percent. D) -8 percent.
Until about 1983, almost all of the U.S. national debt stemmed from
a. financing wars. b. bank failures. c. development assistance programs. d. tax cuts.
Last year, you earned a nominal wage of $10 per hour and the price level was 120 . This year your nominal wage is $11 per hour, but you are unable to purchase the same amount of goods as last year. The price level this year must be
a. 135 b. 132 c. 125 d. 121