Question

True false or uncertain and give an answer that is 3+ sentences long.

1)Assuming that exchange rates are consistent across currencies, then if the Canadian dollar exchange rate with the US dollar and the US dollar exchange rate with the Euro are both equal to 1.18, then the Canadian dollar exchange rate with the Euro is equal to 1.00.

2)You have been given a pass (with no resale value) to a concert. That same night you could either; binge-watch Game of Thrones, or go to a party with friends, or do your Econ homework - valued at $20.00, $30.00, and $0.05 respectively. The opportunity cost of going to the concert is $50.05.

Answer 1