An exchange rate is
a. the rate at which goods are traded between countries
b. the rate of the net difference between exports and imports
c. the denomination of currency used to purchase imports
d. the price of one currency in terms of another
e. the price at which one good trades for another
D
You might also like to view...
Using the information in Table 6.2, the percent increase in prices over the two year period from 2014 to 2016 is approximately
A) 26 percent. B) 31 percent. C) 38 percent. D) 98 percent.
In a perfectly competitive industry, the demand for a single firm's product is
A) perfectly inelastic. B) perfectly elastic. C) as elastic as the market demand. D) inelastic, but not perfectly inelastic.
Macroeconomics deals with ________ while microeconomics deals with ________
A) choices important to people; choices not important to people B) economywide choices; choices of individuals C) choices that involve money; choices that does not involve money D) choices of rich people; choices of poor people
In the standard Roy model, migration can lead to an increase in average skills in both locations. What is necessary for this to happen?
A. The workers who migrate from the source country are above-average in skill relative to the average source country person but are below-average in skill relative to the average destination country person. B. The highest skilled workers migrate from the source country to the destination country. C. The lowest skilled workers migrate from the source country to the destination country. D. Migration leads to an increase in average skills in both locations whenever there is positive selection. E. The workers who migrate from the source country are below-average in skill relative to the average source country person but are above-average in skill relative to the average destination country person.