The following table provides nominal exchange rates for the U.S. dollar.CountryForeign currency/dollarDollar/foreign currencyPoland(Zloty)4.367.229South Africa(rand)6.944.144Based on these data, the nominal exchange rate equals approximately ________ zloty per South African rand or, equivalently, ________ rand per Polish zloty.
A. 0.021; 47.640
B. 0.629; 1.590
C. 47.640; 0.021
D. 1.590; 0.629
Answer: B
You might also like to view...
The level of real GDP the economy produces at full employment is called
A) sustainable GDP. B) nominal GDP. C) potential GDP. D) maximum GDP. E) Lucas GDP.
The capture theory of regulation, espoused by George Stigler, asserts that
a. consumers "capture" regulatory agencies so that regulation favors consumers b. producers "capture" regulatory agencies so that regulation favors producers c. regulators "capture" producers and limit their market power d. consumers "capture" some consumer surplus lost to monopoly e. consumers and producers work together to "capture" regulatory agencies in order to achieve more desirable regulation
Compared to a firm in perfect competition, the monopolistically competitive firm tends to
a. produce less and charge a higher price b. produce less and charge a lower price c. produce more and charge a lower price d. produce more and charge a higher price e. produce the same quantity
If the price of inputs rises when a nation is in the intermediate range:
a. Real GDP rises and average price level rises. b. Real GDP rises and average price level falls. c. Real GDP falls and average price level rises. d. Real GDP rises and real GDP remains the same. e. Real GDP remains the same and average price level falls.