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Author Question: If the dollar/pound exchange rate is 2/, a Big Mac costs 5 in New York City and costs 2 in London, ... (Read 113 times)

stock

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on: Jun 30, 2018
If the dollar/pound exchange rate is 2/, a Big Mac costs 5 in New York City and costs 2 in London, the pound is ________, and U.S. tourists will be ________.
 
  A) overvalued; better off in London
  B) overvalued; better off in New York
  C) undervalued; better off in London
  D) undervalued; better off in New York

Question 2

Having MFN status means that the country is getting the most favorable trade terms possible with a trading partner.
 
  Indicate whether the statement is true or false


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todom5090

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

C

Answer to Question 2

FALSE


stock

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Reply 2 on: Jun 30, 2018
Excellent

meow1234

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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