The nominal exchange rate is the
A) domestic currency price of foreign currency.
B) foreign currency price of domestic currency.
C) price of domestic goods in terms of foreign goods.
D) price of foreign goods in terms of domestic goods.
A
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What is one reason perfectly competitive firms wish to be ever more efficient?
A) Individual firms are awarded by the tax code to be more efficient. B) Individual firms can better control their costs than the price they can charge. C) Individual firms can better control their costs than their output levels. D) Individual firms don't need to be efficient; government policies do not reward efficiency.
Which of the following is true of American Depository Receipts (ADRs)? a. ADRs cannot be sold "over the counter." b. Each ADR is backed by a specific number of the issuer's local shares
c. An ADR is a stock that trades in foreign countries but represents a specified number of shares in a U.S. corporation. d. For foreign companies, ADRs are an easy way to purchase raw material from U.S. producers. e. ADRs are issued or sponsored in the United States by the federal government.