If the dollar price of the English pound goes from $1.50 to $1.75, the dollar has
What will be an ideal response?
depreciated, and Americans will find English goods more expensive.
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Which of the following economic theories share(s) the noninterventionist policy conclusions of the original classical theory?
a. The Keynesian theory b. The monetarist theory c. The new classicist theory d. Both b and c e. All of the above
Monetarists and classical economists think very much alike, certainly when compared to Keynesians. For example, they both assume that the
a. velocity of money is constant b. changes in money supply changes GDP c. economy operates at full employment d. price level is constant e. interest rate has no impact on investment
“The regulatory force in the market system bears the seeds of its own destruction.” Explain and evaluate
Please provide the best answer for the statement.
A monopolistically competitive firm maximizes profits in the short run and long run at an output level where marginal revenue equals marginal costs.
Answer the following statement true (T) or false (F)