Under a flexible exchange rate system an increase in the value of a currency relative to other currencies is a called a(n) ________ and under a fixed exchange rate system an increase in the official value of a currency is called a(n) ________.
A. depreciation; devaluation
B. depreciation; appreciation
C. revaluation; appreciation
D. appreciation; revaluation
Answer: D
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The ________ interest is the relevant interest rate in the money market; the __________ interest rate is the relevant interest rate in the loanable funds market
a. Nominal; nominal. b. Nominal; real c. Real; nominal d. Real; real
The price where quantity demanded is equal to quantity supplied is known as
a. equilibrium price. b. equilibrium quantity. c. equilibrium rate. d. equilibrium level.
If intended investment increases by $50, and the MPC remains unchanged at 0.75, then
a. the economy is in equilibrium at both levels of intended investment because MPC remains unchanged b. national income remains unchanged regardless of the change in intended investment c. MPS must increase from 0.25 to 0.75 d. national income increases by $200 e. we know this couldn't happen because the MPC cannot remain unchanged when intended investment changes
It would always be a mistake to view
a. many species of animals as common resources. b. a road as a public good. c. national defense as a common resource. d. a fireworks display as a public good.