A nominal, bilateral exchange rate is:
a. The weighted-average value of a currency relative to many foreign currencies.
b. The nominal, effective exchange rate adjusted for a nation's price level relative to many foreign countries' prices.
c. The same as the nominal, effective exchange rate.
d. The value of one currency in terms of another currency.
.D
You might also like to view...
Which statement is an example of substitute goods affecting demand?
a. A bumper crop of cotton lowers the price of cotton clothing. Sales of silk shirts decrease. b. As laptop computer sales increase, so do the sales of computer cases. c. An automobile maker lays off thousands. Sales of electronic goods in that city fall. d. Hi-tech companies lure people to a region. Demand for housing rises.
Refer to Figure 7.1. Suppose that instead of $350, Angus earns only $250 by playing the bagpipes, but all other earnings remain the same. If there is no ordinance against loud music, property rights belong to
A) Angus. B) Dudley. C) no one. D) both Angus and Dudley.