A currency depreciation is a(n):
A. increase in the official value of a currency in a fixed-exchange-rate system.
B. increase in the value of a currency relative to other currencies.
C. reduction in the official value of a currency in a fixed-exchange-rate system.
D. decrease in the value of a currency relative to other currencies.
Answer: D
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The relationship between the unemployment rate and the natural unemployment rate is that the unemployment rate
A) fluctuates about the natural rate. B) equals the natural rate. C) is always below the natural rate. D) is always above the natural rate.
Refer to Figure 3-1. A decrease in the price of a complementary good would be represented by a movement from
A) A to B. B) B to A. C) D1 to D2. D) D2 to D1.
In a firm organized along functional lines, employee performance
a. Is easily evaluated because supervisor and employee have similar skills b. Is more difficult to evaluate because the supervisor and the employee could have different skills c. Does not need to be evaluated d. None of the above
Camille's Chicken operates in a monopolistically competitive market. If Camille implements a new free delivery service for customers,
a. this is an example of advertising b. this is a form of nonprice competition c. total revenue will increase d. total cost will decrease e. her firm will be acting as if it were perfectly competitive market