The exchange rate is the ________.
A. market on which currencies of various nations are traded for one another
B. rate at which two currencies can be traded for each other
C. quantity of foreign currency assets held by a government for the purpose of purchasing the domestic currency in the foreign exchange market
D. price of the average domestic good or service relative to the price of the average foreign good or service, when prices are expressed in terms of a common currency
Answer: B
You might also like to view...
The Sherman Act prohibited
A) collusive price agreements among rival sellers. B) setting price above marginal cost. C) marginal cost pricing. D) selling below average total cost.
Jeff decides that he would pay as much as $2,000 for a new laptop computer. He buys the computer and realizes a consumer surplus of $300 . How much did Jeff pay for his computer?
a. $300. b. $1,700. c. $2,000. d. $2,300.
Which of the following features are relevant for determining the extent of a market?
A. Its geographical boundaries B. Technological innovations that would reduce the cost of production C. The range of products to be included in it D. both A and C E. both A and B F. both A and C
Which of the following is a characteristic of a perfectly competitive seller's demand curve?
A. Price and marginal revenue are equal at all levels of output. B. Average revenue is less than price. C. Its elasticity at all levels of output is 1. D. It is the same as the market demand curve.