If the implied exchange rate between Big Mac prices in the United States and the Philippines is 68 pesos per dollar, but the actual exchange rate between the United States and the Philippines is 43 pesos per dollar, which of the following would you
expect to see?
A) a depreciation of the dollar B) an increase in the demand for dollars
C) an appreciation of the Philippine pesos D) a decrease in the demand for dollars
B
Economics
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If a firm offers a senior citizen discount
A) the firm expects the average senior citizen to have a lower price elasticity of demand. B) the firm expects the average senior citizen to have a higher price elasticity of demand. C) senior citizens may be offended. D) it may be prosecuted for discrimination.
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A benefit-based standard
a. is one that balances social benefits with social costs, at the margin b. achieves allocative efficiency c. achieves a cost-effective level of pollution abatement d. is set to improve society’s well-being without consideration for costs
Economics