The price of one currency in terms of another is the
A) price of gold.
B) price of a SDR.
C) foreign exchange rate.
D) price of foreign stock.
Answer: C
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The Laffer Curve only applies to income taxes
a. True b. False
Physical capital differs from raw materials in the sense that raw materials
a. have a longer useful life in production b. are considered human capital c. cannot be used to produce goods and services d. are used up in production e. are not a resource used in production
In Keynesian economics the expenditure multiplier suggests that a change in spending causes a(n) _______________ change in GDP.
a. equal b. lesser c. greater d. minor
A tax has an excess burden whenever
a. people are unable to alter their behavior to avoid paying it. b. government seeks to raise it. c. it raises a great deal of revenue. d. it induces people to change their behavior.