A currency appreciation is a(n):
A. reduction 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. decrease in the value of a currency relative to other currencies.
D. increase in the official value of a currency in a fixed-exchange-rate system.
Answer: B
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The effect of a rise in peoples' incomes on equilibrium price and quantity of Florida orange juice is to
a. increase equilibrium price and quantity b. decrease equilibrium price and quantity c. increase equilibrium price and decrease equilibrium quantity d. increase equilibrium quantity and decrease equilibrium price e. decrease equilibrium price and increase equilibrium
If the government owes $15.0 trillion and then borrows $900 billion more this year, this leads to
a. a debt of $900 billion and a deficit of $15.9 trillion. b. a debt of $15.9 trillion and a deficit of $900 billion. c. a debt of $14.1 trillion and a deficit of $900 billion. d. a debt of $15.0 trillion and a deficit of $14.1 trillion. e. a debt of $15.9 trillion and a deficit of zero.
Inventory levels unexpectedly rise and as a result firms reduce the level of production. Which of the following is consistent with these two occurrences?
A) TP is greater than TE. B) TP is less than TE. C) TP is equal to TE. D) TP is equal to TE minus the rise in inventories above the optimum inventory level. E) none of the above
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point A to Point D. This could be explained by
A. an increase in economic growth. B. a change in society's preferences for motorcycles versus hybrid cars. C. a reduction in unemployment. D. an improvement in technology.