Examlex
Which of the following equations correctly represents the nominal exchange rate?
Resource Price
Resource price is the cost associated with acquiring the inputs needed for production, including labor, raw materials, and capital.
Derived Demand
The demand for a factor of production or intermediate good that occurs as a result of demand for the final good or service.
Labor
The use of human physical and intellectual labor in the creation of products and services.
Capital
Refers to financial assets or the financial value of assets, such as cash and goods, used in a business to generate wealth through investment or production.
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