Checking exchange rates, you find $1 equals 0.75 euros. Then the price of 1 euro is
A) $0.25.
B) $0.75.
C) $1.33.
D) $4.30.
Answer: C
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Which of the following statements is false?
A) Marginal cost will equal average total cost when marginal cost is at its lowest point. B) When marginal cost is greater than average total cost, average total cost will rise. C) Marginal cost will equal average total cost when average total cost is at its lowest point. D) When marginal cost is less than average total cost, average total cost will fall.
Price-discriminating, profit-maximizing monopolists charge higher prices to buyers who have more elastic demand curves
a. True b. False
If a seller incurs an obligation to generate an ancillary obligation of a certain value to offset the initial buyer's capital expenditure, then there is a(n) ____ in place
A) spot contract B) buyback contract C) offset contract D) enforceable contract
If a local shop buys a used motorcycle for $1,000, makes repairs and refurbishes it, then resells it for $2,500, the
a. shop contributes value added equal to $1,500, but nothing is added to GDP. b. shop contributes value added equal to $1,500, and consequently $1,500 is added to GDP. c. shop contributes nothing to production because only existing goods are involved. d. shop contributes value added equal to $2,500, but only $1,500 is added to GDP.