At an exchange rate of 1 pound = $2.00, an American product is sold for the equivalent of 50 pounds in Britain. Assuming that the dollar price does not change, what will be the new equivalent British-pound price if the exchange rate for a British pound rises to $3?
A. 100.0 pounds
B. 50.0 pounds
C. 33.3 pounds
D. 24.5 pounds
C. 33.3 pounds
You might also like to view...
According to your text, when a shortage exists,
A) buyers compete with buyers. B) buyers compete with sellers. C) sellers compete with sellers. D) the price of the good would tend to fall in order to eliminate the shortage.
As tax rates rise linearly, DWL also rises linearly. ?
Answer the following statement true (T) or false (F)
According to the U.S. Supreme Court's 1945 ruling on Alcoa,
a. all monopolies are illegal b. price fixing agreements are illegal under the rule of reason c. small firms can be found to be in violation of the Sherman Antitrust Act d. "mere size is no offense." e. possession of market power is sufficient for a firm to be found in violation of the Sherman Antitrust Act
Real GDP is most commonly used to monitor short-run changes in
a) economic activity. b) the rate at which a person can trade the currency of one country for the currency of another. c) the income distribution over time. d) the price index from the preceding period.