In July 2011, $1 was worth 45 Indian rupees and in July 2012, $1 was worth 55 Indian rupees. We can therefore conclude that
A) the Indian rupee depreciated.
B) the Indian rupee appreciated.
C) the U.S. dollar has depreciated.
D) the value of the U.S. dollar has fluctuated.
A
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Aid sent to a foreign country is an example of ________
A) transfer payment to the foreign country B) export by the home country C) import by the home country D) factor payment to the foreign country
Which of the following would be best classified as a private good?
A) a missile defense system B) police force C) radio frequency D) clothing
Over the last century, U.S. real GDP per person grew at a rate of about
a. 2 percent per year, so that it is now 2 times as high as it was a century ago. b. 2 percent per year, so that it is now 8 times as high as it was a century ago. c. 4 percent per year, so that it is now 2 times as high as it was a century ago. d. 4 percent per year, so that it is now 8 times as high as it was a century ago.
When money is the basic measure of economic value, it serves as:
A. a store of value. B. bank reserves. C. a unit of account. D. a medium of exchange.