How many U.S. dollars does a U.S. importer need to pay for an invoice of 1 million yen when the price of 1 yen is $0.006?
A. $1.66 million
B. $1,666 million
C. $6,000
D. $166.7
Answer: C
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The law of comparative advantage implies that a nation, individual, or region should trade for those economic goods for which it
What will be an ideal response?
Which of the following is NOT a feature of Sweezy oligopoly?
A. Each firm believes that rivals will cut their prices in response to a price reduction, but will not raise their prices in response to a price increase. B. The firms produce homogeneous products. C. There are few firms in the market serving many consumers. D. Barriers to entry exist.