Suppose the peso-dollar foreign exchange rate changes from 50 pesos per dollar to 30 pesos per dollar. Then the peso has ________ against the dollar and the dollar has ________ against the peso
A) appreciated; depreciated
B) appreciated; appreciated
C) depreciated; appreciated
D) depreciated; depreciated
A
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Which of the following is the most important pre-requisite to a well-functioning market economy?
A) Goods must be non-scarce. B) Everyone must have an adequate income. C) Participants must follow some clear, general rules. D) People must have roughly similar tastes and preferences. E) There must be approximate equality of incomes.
COLA stands for:
A. cost-of-living adjustment. B. cost-of-living aggregate. C. capital operations leasing adjustment. D. capital operations leasing agreement.
GDP measures:
a) A country's income b) A country's wealth c) Consumer spending d) Net trade income
Voters may choose to remain uninformed about an issue because of:
A. the special-interest effect. B. rational ignorance. C. bureaucratic inefficiency. D. the shortsightedness effect.