The exchange rate £/$ is an example of a:
a. Real, effective exchange rate.
b. Real, bilateral exchange rate.
c. Nominal, effective exchange rate.
d. Nominal, bilateral exchange rate.
.D
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The ________ hypothesis claims that differences in natural environment such as climate, and ecology are ultimately responsible for the major differences in prosperity observed around the world
A) climate B) location C) ecology D) geography
Free riding can be found in team structures
Indicate whether the statement is true or false
The negative slope of the demand curve reflects the
a. positive relationship between price and quantity b. proportional relationship between price and quantity c. inverse relationship between price and quantity d. positive relationship between income and quantity e. inverse relationship between income and price
The vertical axis for an aggregate demand curve measures
A. real Gross Domestic Product? (GDP). B. quantity demanded of the representative good. C. the interest rate. D. the price level.