If 1 British pound was equal to $2 in 2005 and $1.75 in 2008, it indicates that the pound appreciated against the dollar in 2008

Marginal cost refers to the ________ cost incurred when choosing a particular action

A) total B) net C) implicit D) additional

Purchasing power parity is criticized because it:

A. includes the trade in assets. B. uses the wrong basket of goods to compute purchasing power parity exchange rates. C. does not account for trade in assets. D. does not apply when exchange rates are flexible.