The price of ________ in terms of ________ is referred to as the ...

[CORALGRILL2014]

The price of ________ in terms of ________ is referred to as the real exchange rate.
 
  A) foreign goods; foreign services B) domestic goods; the domestic currency
  C) domestic goods; foreign goods D) domestic goods; domestic services

Question 2

Refer to Figure 4-5. Suppose that instead of a price ceiling, the government imposed a price floor of R1. What area represents the deadweight loss after the imposition of the price floor?
 
  A) C + E + J + H B) G + H C) J + H D) C + E

[Joc]

Answer to Question 1

C

Answer to Question 2

D

[CORALGRILL2014]

Excellent

[fatboyy09]

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