Refer to the diagram. At the equilibrium exchange rate:
A. $8 will buy 1 euro.
B. 0.8 euros will buy $1.
C. 1.25 euros will buy $1.
D. $1 will buy 8 euros.
C. 1.25 euros will buy $1.
You might also like to view...
In a perfectly competitive labor market, a profit-maximizing firm will hire labor up to the point at which the
a. wage rate = MRC b. wage rate < MRP c. wage rate = MRP d. wage rate > MRP e. wage rate = MP
Average GDP per person is
A. A measure of the economic growth rate of a country. B. The value of the factors of production used to produce output in a country. C. Also known as GDP. D. Also known as per capita GDP.
An increase in the interest rate should
A) increase investment spending. B) decrease consumption spending. C) increase government spending. D) increase net exports.
The absolute income gap between the IACs and the DVCs has:
A. remained constant over time. B. increased over time. C. decreased over time. D. increased in nominal terms but decreased in real terms.