If purchasing power parity holds and a basket of goods costs $300 in the U.S. and the same basket costs 450 manats in Azerbiajan, then what is the nominal exchange rate?

In the neoclassical growth model without technological progress, the steady-state growth rate of per capita output is

a. the growth of technology plus the growth of population. b. the growth of population. c. the growth of technology. d. the growth of technology plus population plus depreciation.

In which of the following instances is the effect on equilibrium price (whether it rises, falls, or remains unchanged) dependent on the magnitude of the shifts in supply and demand?

What will be an ideal response?