In the above figure, the equilibrium exchange rate between U.S. dollars and British pounds is
A. A.
B. B.
C. C.
D. W.
Answer: A
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Use the Cobb-Douglas production function to explain why even massive movements of labor and capital across national borders may have little impact on differences in per capita income
What will be an ideal response?
For part A coverage of Medicare, the patient pays a deductible approximately equal to the cost of the first day in the hospital; Medicare pays
a. for days 2-30. b. for days 2-60 c. for days 2-90. d. for the remainder of the hospital stay, however long it may be
When the U.S. Treasury sells bonds to the public to finance government spending and then the Fed buys the bonds through open-market purchases, the Fed is
a. monetizing the debt. b. decreasing the money supply. c. decreasing bank reserves. d. increasing the difficulty of raising funds for government spending.
The presence of a price control in a market for a good or service usually is an indication that
a. an insufficient quantity of the good or service was being produced in that market to meet the public's need. b. the usual forces of supply and demand were not able to establish an equilibrium price in that market. c. policymakers believed that the price that prevailed in that market in the absence of price controls was unfair to buyers or sellers. d. policymakers correctly believed that price controls would generate no inequities of their own once imposed.