If Wisconsin cheddar cheese sells for $3.00 per pound in the United States and for 27.90 pesos in Mexico, what is the exchange rate between the dollar and the peso (assuming PPP holds)?

If the GDP deflator is equal to 100, then for that year nominal GDP is equal to real GDP

Indicate whether the statement is true or false

An input's marginal revenue product is given by:

a. the input's marginal expense times marginal revenue. b. the input's marginal expense times the input's marginal physical productivity. c. marginal revenue times the number of units employed. d. the input's marginal physical productivity times marginal revenue of the firm's output.