Author Question: If 60 pesos can be exchanged for 5 in the foreign exchange market, which of the following represents ... (Read 48 times)

cool · **on:** Jun 30, 2018

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.