If 60 pesos can be exchanged for 5 in the foreign exchange ...

[cool]

If 60 pesos can be exchanged for 5 in the foreign exchange market, which of the following represents the nominal exchange rate between the two currencies?
 
  A) 12 dollars for 1 peso B) 5 pesos for 1 dollar
  C) 1 dollar for 60 pesos D) 1 dollar for 12 pesos

Question 2

What will happen to the demand curve for workers in steel mills if some technology that increases their productivity is introduced assuming all else equal?
 
  A) It will cause a downward movement along the demand curve of the workers.
  B) It will cause an upward movement along the demand curve of the workers.
  C) It will cause a leftward shift in the demand curve of the workers.
  D) It may cause a rightward shift in the demand curve of the workers.

[amanda_14]

Answer to Question 1

D

Answer to Question 2

D

[cool]

Gracias!

[tranoy]

Excellent