On January 25, 2009, one U.S. dollar traded on the foreign exchange market for about 1.15 Swiss francs. Therefore, one Swiss franc would have purchased about ________ U.S. dollars
A) 0.30
B) 0.87
C) 1.15
D) 3.10
B
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Refer to Figure 10.1. Suppose the individual is initially at point b. Based on the figure, the individual could afford to increase his utility by:
A. consuming more today and less tomorrow.
B. consuming more today and more tomorrow.
C. consuming more tomorrow and less today.
D. consuming less today and less tomorrow.
Which of the following is true when an economy is in long-run equilibrium?
What will be an ideal response?
Tariffs:
A. may be imposed either to raise revenue (revenue tariffs) or to shield domestic producers from foreign competition (protective tariffs). B. are also called import quotas. C. are excise taxes on goods exported abroad. D. are per-unit subsidies designed to promote exports.
In order to exercise control over the price of its product, a firm must be able to ________ competition.
A. limit B. increase C. maximize D. not change