The exchange rate is the
A. price of one currency in terms of another.
B. price of imports in terms of exports.
C. nominal price of a currency in terms of gold.
D. reciprocal of the terms of trade.
A. price of one currency in terms of another.
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A product can be classified to be an inferior good if an increase in the income of buyers causes
a. A decrease in quantity demanded b. A decrease in demand c. An increase in demand d. An increase in quantity demanded.
Bob deposits $100 in a bank account that pays an annual interest rate of 5 percent. A year later, Bob withdraws his $105 . If inflation was 2 percent during the year the money was deposited, then Bob's purchasing power has increased by 3 percent
a. True b. False Indicate whether the statement is true or false
The consumer price index was 200 in 2012 and 208 in 2013 . The nominal interest rate during this period was 9 percent. What was the real interest rate during this period?
a. 5.00 percent b. 1.00 percent c. 5.15 percent d. 13.00 percent
Refer to the accompanying figure. The marginal utility of the 7th pizza is
A. 100. B. -5. C. 5. D. -100.