Timmy can edit 2 pages in one minute and he can type 80 words in one minute. Olivia can edit 1 page in one minute and she can type 100 words in one minute. Timmy has an absolute advantage and a comparative advantage in editing, while Olivia has an absolute advantage and a comparative advantage in typing

If the exchange rate between the U.S. dollar and the Indian rupee (rupees per dollar) is greater than the relative purchasing power between the two countries, which of the following would be true?

A) There are opportunities for profit by purchasing goods in India and then selling them in the United States. B) Purchasing power parity predicts that the value of the dollar will rise as traders take advantage of arbitrage opportunities. C) There are no arbitrage opportunities for which traders can take advantage. D) Purchasing power parity predicts that the dollar is undervalued as traders take advantage of arbitrage opportunities.

Which of the following is NOT a form of e-money?

A) a debit card B) a credit card C) a stored-value card D) a smart card