An exchange rate is the number of units that buys one unit of another currency.
a. true
b. false
a. true
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A local restaurant offers "early bird" price discounts for dinners ordered from 4:30 to 6:30 PM. This is an example of
A) peak-load pricing. B) second-degree price discrimination. C) a two-part tariff. D) tying. E) none of the above
Boundary solutions arise when:
A. a good provides a consumer with little value per dollar relative to other alternatives. B. a consumer has a very low level of income. C. indifference curves are convex. D. indifference curves exhibit increasing MRS.
A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.
If planned investment exceeds actual investment
A. there will be a decline in inventories. B. there will be an accumulation of inventories. C. there will be no change in inventories. D. none of the above.