If the dollar depreciates relative to the Peso, it can be said that
What will be an ideal response?
the Peso appreciates relative to the dollar.
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What do economists mean when they refer to inflation as "general increase in the prices of goods and services."
A. Some prices are rising, some prices are falling, and some prices are constant, but on average, prices are increasing. B. Some prices are rising, some prices are falling, and some prices are constant, but on average, prices are decreasing. C. All prices are rising. D. All prices are falling.
Filing a fraudulent income tax return that understates income or overstates deductions is known as
a. tax evasion b. logrolling c. tax avoidance d. rent seeking e. profiteering
Is national defense excludable? Is it rival in consumption? How do we classify national defense in terms of the four types of goods?
Table 8-1 Item Amount (billions) Personal Consumption Expenditures 600 Depreciation 50 Wages 800 Indirect Business Taxes 10 Rental Income 25 Gross Private Domestic Investment 150 Corporate Profits 75 Net Exports 5 Government Purchases of Goods and Services 200 Government Transfer Payments 50 According to the data in Table 8-1, the value of GDP is
A. 800 B. 805 C. 955 D. 1,055