There is an exchange rate between
a. every pair of currencies.
b. the world's major currencies but not between the currencies of less-developed countries.
c. currencies on a fixed-exchange rate system but not for those on a floating-rate system.
d. the currencies of the European Union but not for the nations outside the European Union.
a
Economics
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Because of diminishing marginal productivity
A) the labor supply curve is not vertical. B) nominal wages are sticky in a downward direction. C) the labor demand curve is negatively sloped. D) households save only a small share of their income.
Economics
If the price of gasoline increased by 5% and consumers responded by purchasing 5% less gasoline, the absolute value of price elasticity of demand for gasoline would equal
A) 0.1. B) 0.5. C) 5. D) 1.
Economics