If a currency increases in value in response to market forces, this process is known as
A. reflation.
B. revaluation.
C. appreciation.
D. value-added.
Answer: C
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Many financial analysts use GDP as a measure of the economy's performance. However, GDP has several shortcomings in terms of measuring economic well-being
State at least three such shortcomings and explain how each affects the validity of GDP as a measure of economic well-being.
The price of sugar that prevails in international markets is called the
a. export price of sugar. b. import price of sugar. c. comparative-advantage price of sugar. d. world price of sugar.
The price ceiling that the federal government placed on human organs caused
A. A shortage. B. A surplus. C. An increase in supply. D. An increase in demand.
Which of the following is considered a microeconomic issue?
A. The Federal Reserve cuts key interest rates in order to stimulate lending. B. India experiences a reduction in unemployment after opening its borders to trade. C. Walmart decides to add more self-checkout machines as the cost of labor rises. D. Chinese economic growth has declined.