If a French importer has to write a 4,000 euro check to cover a $8,000 purchase from the United States, the exchange rate is ______ dollar to a euro.
Fill in the blank(s) with the appropriate word(s).
Answer: 2
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When the price of apples goes up
A) the quantity of apples demanded will decrease, ceteris paribus. B) the demand for apples will increase, ceteris paribus. C) the quantity of apples demanded will increase, ceteris paribus. D) the demand for apples will decrease, ceteris paribus.
When compared to a perfectly competitive market, a single-price monopoly with the same costs produces ________ output and charges ________ price
A) a larger; a lower B) a smaller; a lower C) the same; a higher D) a smaller; a higher E) a smaller; the same
Game theory is distinctive in that its elements are
A) costs, prices, and profits. B) revenues, elasticity, and profits. C) rules, strategies, payoffs, and outcomes. D) patents, copyrights, and barriers to entry.
A goal of contractionary monetary policy is to:
A) decrease the rate of growth of real GDP. B) increase the rate of growth of real GDP. C) increase inflation. D) none of the above.