The euro floats against other currencies, but the member nations of the euro have no separate national money. For this reason, Spain, that uses the euro as its currency is listed under the managed float arrangement

If the exchange rate between the Russian ruble and the U.S. dollar is 33.3 rubles for $1, then how much is each ruble worth in U.S. dollars?

a) $0.03 b) $0.30 c) $0.33 d) $33.3

If an excise tax is placed on a product that has a perfectly inelastic demand, then: a. the entire tax will be paid by the consumer

b. the entire tax will be paid by the producer. c. the consumer and producer will each pay a share of the tax. d. the incidence of the tax cannot be determined unless we know the coefficient of price elasticity of supply. e. the tax is progressive.