When the value of a currency decreases relative to other currencies, we say that a currency experiences:
A. exchange-rate depreciation.
B. exchange-rate appreciation.
C. interest-rate appreciation.
D. interest-rate depreciation.
Answer: A
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A person's house is part of her
A) money. B) income. C) liabilities. D) wealth.
Money is legal tender if: a. people willingly accept it in payment of debts. b. it is backed by gold or silver
c. it is commodity money. d. the government says it is. e. it is in a bank account.
Which of the following is not a reason why government agencies subsidize basic research?
a. The private market devotes too few resources to basic research. b. The general knowledge developed through basic research can be used without charge. c. The social benefit of additional knowledge is perceived to be greater than the cost of the subsidies. d. The government wants to attract the brightest researchers away from private research firms.
Explain how the market demand curve can be derived. Does the law of demand apply to the market demand curve?
What will be an ideal response?