If the foreign exchange rate is 70 cents for one Swiss franc, then
A. a wine that costs 200 francs will cost $14.00.
B. a house that costs 100,000 francs will cost $700,000.00.
C. a car that costs 40,000 francs will cost $7,143.00.
D. a clock that costs 500 francs will cost $350.00.
Answer: D
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When the supply of money is vertical, changes in money demand will not change the equilibrium quantity of money in existence
a. True b. False Indicate whether the statement is true or false
The following economy produces two products.ProductsProduction Possibilities?ABCDEFSteel012345Wheat100907555300Refer to the above table. In moving from possibility A to F, the cost of a unit of steel in terms of a unit of wheat:
A. remains constant. B. increases. C. decreases. D. increases from A to B, and decreases from B to F.
A perfectly competitive firm is selling 300 units of output at $4 each. At this output level, total fixed cost is $100 and total variable cost is $500. The firm
A. is experiencing an economic loss. B. is earning a profit, but not necessarily the maximum profit. C. should shut down. D. is maximizing its profit.
The __________ declared that some forms of price discrimination is illegal, especially when it decreases competition.
a. Robinson-Patman Act b. Sherman Antitrust Act of 1890 c. Merger Act d. Federal Trade Commission Act.