Average income in some East Asian countries, as measured by real GDP per person, has recently grown at an average annual rate that implies income will double about every

Three-wheel cars made in North Edsel are sold for 5000 pounds. Four-wheel cars made in South Edsel are sold for 10,000 marks. The nominal exchange rate between the two countries is three marks per pound

The real exchange rate between the two countries is A) 0.50 three-wheel cars per four-wheel car. B) 0.66 three-wheel cars per four-wheel car. C) 1.50 three-wheel cars per four-wheel car. D) 2.00 three-wheel cars per four-wheel car.

An increase in the interest rate today leading to a decrease in consumption today violates the law of demand

a. True b. False Indicate whether the statement is true or false