Referring to Figure 18.2, U.S. goods will become cheaper in Mexico if the exchange rate goes from ________ to ________ pesos to the dollar.
A. 12; 11
B. 12; 13
C. 11; 13
D. 10; 14
Answer: A
You might also like to view...
Which of the following statements is CORRECT for a monopolistically competitive firm in the short run?
A) Its total revenue is maximized. B) Its total fixed cost is 0. C) Its marginal cost is equal to its marginal revenue. D) Its price is equal to its marginal cost.
The above figure shows the market for pizza. The market is in equilibrium. Pizza and tacos are substitutes for consumers. The price of tacos falls. What point represents the most likely new price and quantity?
A. Point A
B. Point B
C. Point C
D. Point D
E. Point E
Distinguish between the laws of demand and supply. How are the laws of demand and supply illustrated graphically?
What will be an ideal response?
When investors invest in something simply because everyone else is doing it, they are:
A. leveraging market performance for their own gain. B. suspect to "tulip mania." C. acting objectively on full information available in the market. D. following a "herd instinct."