An appreciation of one's currency means that:
a. the country's exports will become less expensive.
b. the country's imports will become more expensive.
c. the country's imports will become less expensive.
d. it now requires more of this currency in exchange for one unit of another currency.
e. it now requires less units of other currencies in exchange for one unit of this currency.
c
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Suppose that Germany, France, Estonia, and India all have the same production possibilities, illustrated in the figure above. Based on the production points in the figure, India is most likely to expand its PPF to
A) PPF2. B) PPF3 or PPF2. C) PPF3. D) PPF1. or PPF2. E) PPF1.
A fixed exchange rate is:
a. determined by the forces of supply and demand. b. the value of a nation's money in gold. c. the value of a nation's money determined by the World Bank. d. none of these.
Moving downward along a linear (straight-line) downward-sloping demand curve, the
A. price elasticity of demand does not change. B. quantity demanded decreases. C. demand becomes more elastic. D. demand becomes less elastic. E. total revenue never changes. Reset Selection
Irene is a vegetarian, so she does not eat pork. That is, pork provides no additional utility to Irene. She loves broccoli, however. If we illustrate Irene's indifference curves by drawing broccoli on the horizontal axis and pork on the vertical axis, her indifference curves will
a. slope downward. b. be vertical straight lines. c. slope upward. d. be horizontal straight lines.