If the Dollar-Pound Exchange Rate Is $1

question 152

Multiple Choice

If the dollar-pound exchange rate is $1.00 per pound,then a shirt priced at 25 pounds will cost an American

• A) $25
• B) $50
• C) $26
• D) $27
• E) an amount that cannot be calculated without additional information.

---

Definitions:

Free Market Ideas

Economic theories and principles that advocate for minimal government intervention, allowing the forces of supply and demand to dictate market outcomes.

Majority

More than half of a particular group or amount, often referring to the requirement for decision-making in voting contexts.

Represented

To have one’s interests or viewpoints presented or advocated for, especially in contexts like negotiations or decision-making bodies.

Majority Unions

Organizations that represent the interests of a majority of workers in a particular sector or company, typically engaging in collective bargaining.