When Del Monte, an American company, purchases Mexican tomatoes, Del Monte pays for the tomatoes with

A) Mexican goods and services.
B) euros.
C) gold.
D) Mexican pesos.
E) Canadian dollars.

D

Economics

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Rent seeking in the form of lobbying for an increase in import tariffs by domestic producers

A) increases consumer surplus. B) increases total welfare. C) increases the deadweight loss. D) None of the above.

Economics

If the exchange rate between yen and dollars were 120 yen per dollar, when an American purchases a good valued at 600 yen, its cost in dollars would be: a. $5

b. $600. c. $72,000. d. $120.

Economics