In one year the dollar would buy 162 Japanese yen, but ten years later, it would buy only 123 yen. Relative to the yen, the value of the dollar:
A. Increased by about 32 percent
B. Decreased by about 24 percent
C. Decreased by about 32 percent
D. Increased by about 24 percent
B. Decreased by about 24 percent
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Which of the following bond ratings by Moody's Investors Service would NOT be considered to be below investment grade?
A) Baa B) Ba C) B D) All of these ratings are considered below investment grade.
Any risk-averse individual would always
A) take a 10% chance at $100 rather than a sure $10. B) take a 50% chance at $4 and a 50% chance at $1 rather than a sure $1. C) take a sure $10 rather than a 10% chance at $100. D) take a sure $1 rather than a 50% chance at $4 and a 50% chance at losing $1. E) do C or D above.
This graph depicts the demand for a normal good.
A shift from B to A in the graph shown might be caused by:
A. a decrease in the good's price.
B. an increase in the good's price.
C. a decrease in the price of a substitute.
D. an increase in the price of a substitute.
Assuming a competitive world, does your country have an absolute advantage in making pizza? You can get your answer by
a. observing if your country makes more pizza than any other country b. calculating the costs of pizza ingredients in your country c. comparing pizza prices in other countries d. calculating the opportunity cost of a pizza in your country e. looking at your country's terms of trade