Which of the following events illustrates the U.S. dollar strengthening against the euro?
a. The exchange rate changes from $1 = 1 euro to $1 = 3 euros.
b. The exchange rate changes from $1 = 3 euros to $1 = 2 euros.
c. The exchange rate changes from $1 = 1 euro to $2 = 1 euro.
d. The exchange rate changes from $1 = 2 euros to $3 = 3 euros.
a. The exchange rate changes from $1 = 1 euro to $1 = 3 euros.
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The relationship between the number of hours you study and your economics score is linear.
Answer the following statement true (T) or false (F)
If a fast food restaurant was one of many hiring workers, the minimum wage was $7.25 an hour, and it was paying $7.25 an hour, an increase in market demand so that the new equilibrium was $9.00 per hour would cause them to
A. lower their offering wage to $6.50 an hour. B. pay between $7.25 and $9.00. C. raise their offering wage to $9.00 an hour. D. do nothing differently.
The outcome of the state of nature effects the payoff to the agent under a
A) fixed-fee contract. B) hire contract. C) contingent contract. D) All of the above.
The best reason economists take only final goods and services into account when calculating GDP is that
A) this is the way things have always been done, but there is no particular reason why. B) they want to avoid the problem of final counting. C) they want to avoid the problem of double counting. D) this is the only way it can be done.