If a country experiences a relatively high inflation rate compared with other economies, then the demand for its currency will _________________.
a. increase
b. stabilize
c. flatten
d. lessen
d. lessen
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A decrease in the discount rate will
A) have an unclear effect on the money supply. B) decrease the money supply. C) increase the money supply. D) not affect the money supply.
The change in the quantity of labor demanded resulting from a change in the quantity produced of the product is known as the ________ effect.
A. input-substitution B. price elasticity C. output D. derived demand
Suppose that the percentage change in demand is 20%, the price elasticity of supply is 2, and the percentage change in the equilibrium price is 4%. What is the price elasticity of demand?
A. 0 B. 1 C. 2 D. 3
By 2006, the market price of European Union emissions allowances dropped because
A. governments set their overall emission caps too high. B. firms underreport their emission amounts. C. the market did not clear. D. firms had drastically reduced their emissions.