In an economy in which labor is mobile and homogeneous, the wages between industries:
a. will be equal.
b. will be very unequal.
c. will be less in the export industry.
d. will be unequal because in some firms the management is more fair to its workers.
Ans: a. will be equal.
Economics
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Which of the following statements is CORRECT?
I. The exchange rate is a price. II. The exchange rate is different from other prices because it is NOT determined by supply and demand. A) only I B) only II C) I and II D) neither I nor II
Economics
A country wishing to establish a currency basket peg usually
A) chooses a small number of trading partner's currencies for that basket. B) chooses all of its trading partner's to be members of the basket. C) chooses six trading partners for inclusion. D) chooses only the most stable reserve currencies for inclusion.
Economics