Suppose the nominal exchange rate between the u. s. and the u. k. is: $1 = £0.5. also, a gallon of milk in the u. s. is $3.50 while a gallon of milk in the u. k. is £2.00. what is the real exchange rate?

4. the condition requires that only one of the selected criteria be true for a record to be displayed.

All of the following led to the collapse of the soviet economy except a. a lack of worker incentives. c. inadequate supply of consumer goods. b. a reliance on production quotas. d. the introduction of a market economy.

Martha is one producer in the perfectly competitive jelly industry. last year, martha and all of her competitors found themselves earning economic profits. if there is free entry and exit, what do you expect to happen to the number of suppliers in the industry and the price of jelly? the number of suppliers will increase, and the price of jelly will fall. the number of suppliers will decrease, and the price of jelly will increase. the number of suppliers will increase, and the price of jelly will increase. the number of suppliers will decrease, and the price of jelly will fall.