If the price in U.S. dollars for one Singapore dollar is 0.625 U.S. dollars, then the price in Singapore dollars for one U.S. dollar is:
a. 1.0 Singapore dollars.
b. 0.625 Singapore dollars.
c. 1.6 Singapore dollars.
d. 0.375 Singapore dollars.
e. 2.66 Singapore dollars.
c
Economics
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In the short-run, real GDP can be greater than or less than potential GDP because in the short run the
A) money wage rate is fixed. B) quantity of capital is fixed. C) full-employment level of employment is fixed. D) price level is fixed.
Economics
Suppose two people with the same level of income and wealth have different discount rates. Joe has a very high discount rate and Jim has a very low discount rate. Which one of the following is TRUE?
A) Joe is more likely to borrow than Jim. B) Joe is less likely to borrow than Jim. C) Joe and Jim will borrow the same amount. D) Neither Joe nor Jim would be borrowers.
Economics