If the U.S. dollar appreciates relative to the British pound, then we pay fewer dollars for a pound
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
In the example of good and bad cigarettes, the authors found that bad cigarettes where inferior because
a. they are an economic bad. b. second hand smoke is an economic bad. c. they comprised a large portion of the smokers budget. d. many more useful goods are also inferior.
Suppose prices are quoted in dollars and transactions are conducted in pesos. The peso serves as a
A) medium of exchange. B) store of value. C) unit of account. D) all of the above.
Because of their derived nature, resource markets are completely different from any other type of market studied by economists
a. True b. False Indicate whether the statement is true or false
Building roads, power generators, and irrigation systems are projects that are referred to as
A. human capital. B. social overhead capital. C. physical capital. D. financial capital.