How many British pounds would it cost to buy a pair of American designer jeans costing $45 if the exchange rate is 2.00 dollars per British pound?
A) 22.5 British pounds
B) 32.5 British pounds
C) 12.5 British pounds
D) 40 British pounds
E) 30 British pounds
A
Economics
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Which of the following is true?
A) Accounting profits = Revenues - Implicit costs - Explicit costs B) Economic profits = Revenues - Explicit costs C) Accounting profits = Revenues - Implicit costs D) Economic profits = Accounting profits - Implicit costs
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The use of money adds to wealth because it tends to increase people's
A) options. B) risks. C) costs. D) expenditures. E) elasticity of demand.
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