​The Value of the Euro Was $1

question 36

Multiple Choice

​The value of the euro was $1.30 last week. During last week the euro depreciated by 5 percent. What is the value of the euro today?

• A) ​$1.365
• B) ​$1.235
• C) ​$1.330
• D) ​$1.30

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Definitions:

Pure Competition

Market structure, in which large numbers of buyers and sellers exchange homogeneous products and no single participant has a significant influence on price.

Entrepreneurs

Individuals who initiate, manage, and assume the risks of a business venture in order to bring new products or services to the market.

Resource Allocations

The process of assigning and distributing available resources, such as time, money, and manpower, among various projects or departments to achieve organizational goals.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that suppliers are willing to produce and sell.