According to purchasing-power parity, if it took 55 Indian rupees to buy a dollar today, but it took 58 to buy it a year ago, then the dollar has
a. appreciated, indicating inflation was higher in the U.S. than in India.
b. appreciated, indicating inflation was lower in the U.S. than in India.
c. depreciated, indicating inflation was higher in the U.S. than in India.
d. depreciated, indicating inflation was lower in the U.S. than in India.
c
You might also like to view...
Price ceilings are designed to protect sellers, while price floors are designed to protect buyers.
Answer the following statement true (T) or false (F)
A local newspaper headline states "Congress Votes Against President's Proposed Tax Increase." An economist would interpret the statement as
A) a sad event, because all economists favor tax cuts. B) uninteresting, because all economists favor theories instead of reality. C) a purely political issue not related to economics. D) a shorthand way of saying, "More individuals in Congress voted against the tax cut compared to the number of individuals who voted in favor of the tax cut."
In the 1950s, crude oil and natural gas imports were restricted to keep the domestic industries viable in case of a war. The rationale for this protection is the ________ argument for protection
A) save domestic jobs B) national security C) anti-dumping D) infant-industry E) penalizing lax environmental standards
Based on the graph showing marginal cost pricing versus average cost pricing, society achieves allocative efficiency at point ______.
a. A
b. B
c. C
d. PMC, Qm