A situation in which money buys the same amount of goods and services in different currencies is called
A) a fixed exchange rate.
B) purchasing power parity.
C) exchange rate surplus.
D) exchange rate equilibrium.
E) exchange rate balance.
B
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Structural unemployment refers to unemployment that results from: a. inefficiencies in the market for labor that prolong the job search. b. being in the wrong geographical location
c. the specialization and division of labor. d. seasonal decreases in demand for labor. e. a recession in the economy.
The opportunity cost of an action is
a. the monetary payment the action required. b. the total time spent by all parties in carrying out the action. c. the value of the best opportunity that must be sacrificed in order to take the action. d. the cost of all alternative actions that could have been taken, added together.