If a U.S. importer can purchase 10,000 British pounds for $20,000, the rate of exchange is:
A. $1 = 2 British pounds in the United States.
B. $2 = 1 British pound in the United States.
C. $1 = 2 British pounds in Great Britain.
D. $.5 = 1 British pound in Great Britain.
B. $2 = 1 British pound in the United States.
You might also like to view...
What are the three main exchange rate systems, and how do they operate?
What will be an ideal response?
If the firm is using only one variable input, explain why the condition W = MRPL is thesame condition as P = MC
What will be an ideal response?
In the United States, corporate profits are taxed at the corporate level but are not taxed as personal income in the form of dividend payments
Indicate whether the statement is true or false
The accelerator theory states that
A) the larger this period's desired capital stock the smaller will be this period's net investment. B) the larger the previous period's desired capital stock the larger will be this period's net investment. C) the larger the previous period's desired capital stock the smaller will be this period's net investment. D) this period's net investment is unrelated to this period's desired capital stock.