The nominal exchange rate:
A. expresses the value of goods in one country in terms of the same goods in another country.
B. expresses the value of goods in one country in terms of another country's currency.
C. is the stated rate at which one country's currency can be traded for another country's goods and services.
D. is the stated rate at which one country's currency can be traded for another country's currency.
Answer: D
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In the study of macroeconomics, production leads to income, and income leads to production in a continuing cycle
Indicate whether the statement is true or false
Profitable investment is most effectively promoted when:
a. the money supply and price level are stable. b. inflation is rising rapidly c. monetary policy is unanticipated. d. persistent inflation increases uncertainty.
The marginal cost of Alexa's Guide to Street People and Their Pets is constant at $5 . Alexa sells 5,000 copies per year at $20 per copy. She would like to increase readership and hold total profit constant. If the price goes to $15, how many copies must she sell?
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