If the exchange rate between the British pound and the U.S. dollar was $1 = £0.67 last month, and the exchange rate is $1 = £0.72 this month, the U.S. dollar has appreciated relative to the British pound.
Answer the following statement true (T) or false (F)
True
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A decrease in the interest rates in a country:
A) increases net exports. B) does not affect net exports. C) reduces net exports. D) results in an inflow of capital to the country.
A game in which each player has a dominant strategy of defecting, and each ends up worse off than if they had both cooperated, is called a ________ game
Fill in the blank(s) with correct word
The change in the quantity demanded of any good is always caused by:
a. a change in consumers' preferences for that good. b. a change in the general income levels of the consumers who buy that good. c. an increase or decrease in the population. d. a change in the price of that good. e. a change in the price of substitute goods.
If two foods are perfect substitutes, the cross elasticity between them is
a. zero b. negative c. between zero and one d. infinite e. there is no specific cross elasticity for perfect substitutes