Author Question: You're traveling in Japan and are thinking about buying a new kimono. You've decided you'd be ... (Read 77 times)

Awilson837 · **on:** Jun 29, 2018

You're traveling in Japan and are thinking about buying a new kimono. You've decided you'd be willing to pay 175 for a new kimono, but kimonos in Japan are all priced in yen.

If the kimono you're looking at costs 14,000 yen, under which of the following exchange rates would you be willing to purchase the kimono? (Assume no taxes or duties are associated with the purchase.)
A) 24.5 yen per dollar
B) 65 yen per dollar
C) 80 yen per dollar
D) You would purchase the new kimono at any of the above exchange rates.

Question 2

Increases in real GDP would understate the well-being of a country over time if, over that time period, the

A) percentage of people addicted to illegal drugs increased.
B) amount of pollution decreased.
C) crime rate increased.
D) average hours worked per week increased.