Suppose the official gold value of the Brazilian real changes from 457 reals per ounce to 528 reals per ounce. We can then say that:
a. the Brazilian real has been devalued.
b. the Brazilian economy is expected to experience rapid inflation.
c. gold has been devalued.
d. the Brazilian real has appreciated in value.
e. gold is now cheaper to purchase in Brazil than it was before.
a
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Suppose an economy has the following characteristics: 100 people in the noninstitutional population; 40 people employed; 50 people not in the labor force. How many people are in the economy's labor force?
A) 40 B) 50 C) 90 D) 100
If an increase in income leads to a decrease in the demand for salami, then salami is
A) a necessity. B) a neutral good. C) a normal good. D) an inferior good.
Suppose we were analyzing the Turkish lira per euro foreign exchange market. If The Euro-Area's risk level falls relative to Turkey and nothing else changes, then the:
a. The supply of euros in the foreign exchange market falls, and the demand for euros in the foreign exchange market falls, causing an uncertain change in the value of the euro. b. The supply of euros in the foreign exchange market rises, and the demand for euros in the foreign exchange market falls, causing an appreciation of the euro. c. The supply of euros in the foreign exchange market rises, and the demand for euros in the foreign exchange market rises, causing an uncertain change in the value of the euro. d. The supply of euros in the foreign exchange market rises, and the demand for euros in the foreign exchange market falls, causing a depreciation of the euro. e. The supply of euros in the foreign exchange market falls, and the demand for euros in the foreign exchange market rises, causing an appreciation of the euro.
A monopolist produces in the elastic segment of its demand curve because when it lowers the price
A) the percentage change increase in quantity demanded is greater than the percentage change decrease in price and total revenue increases. B) the percentage change increase in quantity demanded is less than the percentage change decrease in price and total revenue increases. C) the percentage change increase in quantity demanded is greater than the percentage change decrease in price and total revenue decreases. D) the percentage change decrease in quantity demanded is less than the percentage change decrease in price and total revenue increases.