Referring to Figure 19.1, U.S. goods will become more expensive in Mexico if the exchange rate goes from ________ to ________ pesos to the dollar
A) 13; 11 B) 12; 13 C) 12; 11 D) 14; 10
B
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At age 40, Joe is considering quitting his job and going back for a college degree. He needs two more years full-time. Tuition is $10,000 per year. He earns $30,000 per year. A college degree would raise his annual income by $10,000 per year
He will retire at age 70. Which of the following makes it more likely that Joe will decide to go back to college full-time? A) The rate of interest increases. B) The rate of interest decreases. C) The government enacts mandatory retirement at age 60. D) Tuition increases.
Private goods are excludable and nonrival in consumption
a. True b. False
Knowing the number of firms in a market is the only information needed to identify the structure of that market
a. True b. False
The GDP deflator is designed to
a. adjust nominal GDP for changes in the unemployment rate. b. adjust nominal GDP so as to include the problem of externalities. c. adjust nominal GDP for changes in the price level. d. calculate changes in the price of food and other consumer goods.