John wants to buy a new television set. He can either buy it in the US and pay $1200 or buy it in Canada and pay CAD$1300 . At the exchange rate of 1CA$=US$0.92, ignoring any other costs, he would

a. Prefer buying in the US
b. Prefer buying in Canada
c. Be indifferent about where he buys his television
d. None of the above

b

Economics

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Given an upward-sloping aggregate supply curve, which of the following is most likely to occur if the Fed sells bonds in the open market, ceteris paribus?

A. Greater inflation and more unemployment. B. Greater inflation and less unemployment. C. Lower average prices and less unemployment. D. Lower average prices and more unemployment.

Economics

In the United States, the top 1% of income earners face an average federal tax rate of ________ and contribute ________ of all federal tax dollars received

A) 73%; 49.5% B) 20%; 5% C) 24%; 9.1% D) 29.4%; 24.2%

Economics