If the price of an ounce of gold is 200 ZARs in South Africa and 75 in Canada, what will be the South African Rand (ZAR) per Canadian dollar (C) exchange rate?
a. C1 = 4.25 ZAR
b. C1 = 1.75 ZAR
c. C1 = 2 ZAR
d. C1 = 2.67 ZAR
e. C1 = 4 ZAR
Question 2
Which of the following is false with reference to subsidies?
a. They reduce the cost of production.
b. They transfer the income from tax payers to the exporters.
c. They mean the nation is exporting products in which it does not have comparative advantage.
d. They can lead to inefficiencies.
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