An upward-sloping supply curve of Korean won in terms of Canadian dollars indicates that:
a. the higher the dollar price of Korean won, the more won will be demanded.
b. the higher the dollar price of Korean won, the fewer won will be supplied.
c. the lower the dollar price of Korean won, the more won will be demanded.
d. the lower the dollar price of Korean won, the fewer won will be supplied.
e. the Korean economy is stronger than the Canadian economy.
d
You might also like to view...
Because some monopolies could still earn an economic profit even if the firm is inefficient, corporate executives might waste resources by indulging in
a. long lunches b. corporate jets c. plush offices d. None of the answers is correct. e. All of the answers are correct.
Innovation that improves machinery, power sources and other capital equipment will increase the demand for labor in the short run
a. True b. False Indicate whether the statement is true or false
What does it mean when the demand for a product is inelastic?
a. People will not buy any of the product when the price goes up. b. A price increase does not have a significant impact on buying habits. c. Customers are sensitive to the price of the product. d. There are very few satisfactory substitutes for the product.
If the fiscal year begins without a budget and Congress fails to pass continuing resolution, then:
A. the president has the right to raise the debt ceiling. B. federal agencies operate on the basis of the previous year's budget. C. the interest rate paid on the national debt automatically increases. D. the federal government shuts down.