A appreciation of a currency occurs when:
(a) The value of the currency falls.
(b) The value of the currency increases.
(c) Inflation falls.
(d) The balance of payments improves.
Answer: (b) The value of the currency increases.
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A) a spot exchange rate B) a depreciation of its value C) an appreciation of its value D) a forward spotting
Barry Eichengreen (1992) blamed the severity of the worldwide depression from 1929 to 1933 on the countries who abandoned the rules of the gold standard during economic downturns
This abandonment relieved countries from the monetary discipline measures of the gold standard. Indicate whether the statement is true or false
In reference to determining the optimal amount of advertising, managers of trade associations face each of following additional challenges except which one?
A) lack of free riders B) the ability for a firm to benefit from advertising that they did not pay for C) difference in the marginal benefits of advertising across firms D) difficulty in prescribing a fair and practical way to share the cost of advertising across firms
Which of the following sets of terms describes the problem of scarcity in economics?
A) goods, land, and needs B) labor, needs, and opportunity costs C) choices, opportunity costs, and trade-offs D) production, consumption, and wants