Checking exchange rates, you find $1 equals 0.75 euros. Then the price of 1 euro is
A) $0.25.
B) $0.75.
C) $1.33.
D) $4.30.
C
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The Big Mac index is a measure of how well the purchasing power parity theory works
a. True b. False Indicate whether the statement is true or false
George and Dick's used car lot has a total revenue of $5 million, fixed costs of $8 million, and variable costs of $6 million. In the short run the firm will ________, and in the long run it will ________.
A. shut down; go out of business B. shut down; stay in business C. operate; stay in business D. operate; go out of business
The use of specialization to achieve economies of scale is one reason modern societies are as prosperous as they are
a. True b. False Indicate whether the statement is true or false
When Social Security checks were first issued the nominal amount:
A. regularly increased by 5 % every 3 months. B. regularly increased by 10 % every 3 years. C. stayed 3% above the poverty level for all recipients. D. stayed the same for the life of the payments.