Suppose there are two countries, X and Y. If the exchange rate, as measured in X's currency, is currently 9, what do citizens of the nation of Y see when they read their newspapers?
a. The exchange rate for X's currency is 9.
b. The exchange rate for X's currency is more than 9.
c. The exchange rate for X's currency is 3.
d. The exchange rate for X's currency is 0.11.
e. Knowing one exchange rate does not mean we can tell the other exchange rate.
d
Economics
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Refer to Figure 3-5. At a price of $5,
A) there is a scarcity of 4 units. B) there is a surplus of 4 units. C) there is a shortage of 4 units. D) there is a shortage of 6 units.
Economics
The marginal propensity to consume is defined as the:
a. fraction of total income not spent on consumption. b. proportion of any change in income that is spent on consumption. c. fraction of total income spent on consumption. d. fraction of a change in income that is saved.
Economics