On May 12, 2011, it cost U.S. $.04 to buy one Russian ruble. How many Russian rubles would U.S. $1 buy?
a. 40
b. 33
c. 25
d. 14
c
You might also like to view...
A decrease in the riskiness of corporate bonds will ________ the price of corporate bonds and ________ the price of Treasury bonds, everything else held constant
A) increase; increase B) reduce; reduce C) reduce; increase D) increase; reduce
Discuss the likely impact of each of the following on the unemployment rate and on the natural rate of unemployment.:
a. The length of time workers are eligible to receive unemployment benefits is extended by 26 weeks. b. The government passes a law which increases the age of eligibility to collect Social Security benefits. c. The government decides to increase access to Social Security disability benefits.
Constantine purchased 100 shares of IBM stock several years ago for $150 per share. The price of these shares has fallen to $55 per share. Constantine's investment strategy is "buy low, sell high"
Therefore, he will not sell his IBM stock until the price rises above $150 per share. If he sells at a price lower than $150 per share he will have "bought high and sold low." Constantine's decision: A) is correct and shows a solid command of the nature of opportunity cost. B) is incorrect because the original price paid for the shares is a sunk cost and should have no bearing on whether the shares should be held or sold. C) is incorrect because when the price of a stock falls, the law of demand states that he should buy more shares. D) is incorrect because it treats the price of the shares as an explicit cost.
In the very short run:
a. new firms may enter an industry. b. existing firms may change the quantity they are supplying. c. price and quantity supplied are absolutely fixed. d. quantity supplied is absolutely fixed.