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Author Question: If the representative basket of European goods and services costs 40 euros, the representative U.S. ... (Read 168 times)

kshipps

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  • Posts: 571
on: Jun 30, 2018
If the representative basket of European goods and services costs 40 euros, the representative U.S. basket costs 50, and the dollar/euro exchange rate is 0.90 per euro, then the price of the European basket in terms of U.S. basket is
 
  A) (0.9 /euro) (40 euro per a European basket)/(50 /U.S. basket).
  B) (0.9 /euro) (50 /U.S. basket)/(40 euro per a European basket).
  C) (40 euro per a European basket)/(50 /U.S. basket) (0.9 /euro).
  D) (50 /U.S. basket).
  E) (0.9 /euro) (40 euro per a European basket) (50  U.S. basket).

Question 2

The U.S. and the Canadian currencies are the only two in the world that are called dollars.
 
  Indicate whether the statement is true or false


Liddy

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  • Posts: 342
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

FALSE


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