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Author Question: What is the distinction between a money price and a relative price? What will be an ideal ... (Read 70 times)

Pineapplelove6

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on: Jun 29, 2018
What is the distinction between a money price and a relative price?
 
  What will be an ideal response?

Question 2

Both countries involved in a pegging of currency must agree to the terms of the pegging.
 
  Indicate whether the statement is true or false


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briseldagonzales

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The money price of a good is the dollar amount that must be paid for it. The relative price of a good is its money price expressed as a ratio to the money price of another good. Thus the relative price is the amount of the other good that must be foregone to purchase a unit of the first good.

Answer to Question 2

FALSE


Pineapplelove6

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Reply #2 on: Jun 29, 2018
Thank you


briseldagonzales

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Reply #3 on: Jun 29, 2018
No problemo


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