Which of the following changes in the exchange rate represents an appreciation of the dollar?
a. 100 yen = $1 to 90 yen = $1
b. 1 yen = $.10 to 1 yen = $.08
c. 1 pound = $3 to 1 pound = $4
d. $1 = 25 rubles to $1 = 20 rubles
e. 20 euros = $10 to 19 euros= $10
B
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The branch of economics which studies how households and firms interact in markets is called
A) macroeconomics. B) positive economics. C) normative economics. D) microeconomics.
An orthodox model calls for cutting government spending, reforming the tax system to increase compliance and revenues, and limiting the creation of new money
Indicate whether the statement is true or false
The materials balance model
a. shows the connections between economic decision making and nature b. illustrates the importance of balancing raw materials with physical capital c. is relevant only to manufacturing processes d. is unrelated to achieving sustainable development
An inflationary gap exists when consumers and businesses are demanding more output than the economy is capable of producing at full employment.
Answer the following statement true (T) or false (F)