Economists often monitor and discuss exchange rates. An exchange rate is the value of a country’s money or currency in terms of another. For example, the us dollar is equal to 66 indian rupees. The dollar is the currency of the us and the rupee is the currency of india. Can you list the names of any currencies from any other countries?.

business modeling is correct

answercountries with higher real income per capita tend to have higher levels of this index.

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.