An individual in the US wants to buy office equipment from England which costs 2,800 pounds. If the exchange rate is $1.92/pound, how much will it cost him in dollar terms?
a. $2,800
b. $5,376
c. $1,458
d. Need more information
b
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Which of the following is TRUE?
A) Russia is more dependent of international trade than Brazil. B) Exports and imports are rising more slowly than GDP in the BRIC countries. C) China was the last of the BRICs to start economic reforms. D) All of the BRIC countries had to transition from socialist or communist systems.
Which of the following is not true of an economic expansion?
a. The economy is overheated. b. There is too much spending. c. Production exceeds equilibrium output. d. The aggregate expenditure line is too low to create an intersection at full-employment output. e. Unemployment will be unusually low.
Which of the following taxes is always regressive?
a. a property tax b. an income tax c. a corporate tax on profit d. a 25 percent tax on overtime wages e. a $2 tax on a ticket to the movies
A risk-neutral monopoly must set output before it knows the market price. There is a 50 percent chance the firm's demand curve will be P = 20 ? Q and a 50 percent chance it will be P = 40 ? Q. The marginal cost of the firm is MC = Q. The expected profit-maximizing quantity is:
A. 15. B. 20. C. 5. D. 10.