During a hyperinflation the real domestic value of a country's currency
a. falls and its nominal exchange rate depreciates.
b. falls and its nominal exchange rate appreciates.
c. rises and its nominal exchange rate depreciates.
d. rises and its nominal exchange rate appreciates.
a
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If additional units of a good could be produced at a constant opportunity cost, the production
possibilities frontier would be bowed outward (concave). Indicate whether the statement is true or false
The study of an individual's choice about what type of computer to buy is a subject of
A) macroeconomics. B) microeconomics. C) an aggregate concept. D) not a concern for economic analysis.
Inflation is best described as a situation in which
A) relative prices are changing. B) some prices are rising faster than others. C) relative prices are changing, but the purchasing power of the dollar is unchanged. D) the average of all prices are on a sustained rise over a period of time.
Real Gross Domestic Product is Gross Domestic Product
A. adjusted for changes in interest rates. B. adjusted for inflation. C. after eliminating sales of intangible things, like services. D. adjusted for the impact of pollution.