If the exchange rate between euros and dollars were 2 euros per dollar, when a French tourist buys a good valued at $80, its cost in euros would be:
a. 160 euros.
b. 80 euros

Inflation and unemployment are examples of macroeconomic topics

a. True b. False

Suppose the price of a good rises. When will the resulting substitution effect reduce the quantity demanded of the good?

a. Always. b. Whenever the good is a non-Giffen good. c. Only when the good is normal. d. Only when the good is inferior.