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Which of the following is an example of the law of one price? A. Exchange rates tend to have equivalent values. For example, one Italian lire equals one U.S. dollar. B. Because people have essentially the same basic needs wherever they live, they tend to buy the same bundle of goods. C. Because wages are so much lower in China, eventually all U.S. jobs will be outsourced to China, leaving the US to import all goods at one price. D. Because their countries have similar institutions, ...
Weegy: Which of the following is an example of the law of one price? A. Exchange rates tend to have equivalent values. For example, one Italian lire equals one U.S. dollar (More)
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Updated 7/1/2012 3:55:49 PM
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An example of the law of one price is: D. Because their countries have similar institutions, the price paid for a computer in Germany and the United States are about the same when converted into the same currency.
The law of one price is an economic law stated as: "In an efficient market, all identical goods must have only one price."
Added 7/1/2012 3:55:51 PM
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