When the U.S. dollar appreciates compared to the British pound, this means that ______.
a. a U.S. dollar can buy fewer units of British pounds than before
b. the U.S. dollar declines in value compared to the British pound
c. a U.S. dollar can buy more units of British pounds than before
d. the British pound appreciates compared to the U.S. dollar
c. a U.S. dollar can buy more units of British pounds than before
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Which of the following is not true about economic? models?
A. A model is only an approximation. B. They can be highly complex and based on lengthy mathematical analysis. C. They are not? useful, since they do not include all variables.. D. Models are not perfect replicas of reality.
A monopolist is maximizing profit at an output rate of 100 units per week. At this output rate, the price that its customers are willing and able to pay is $8 per unit, average total cost is $5 per unit, and marginal cost is $6 per unit. It may be
concluded that at this monthly output rate, marginal revenue is A) $5 per unit, and the monopolist earns zero economic profits. B) $6 per unit, and the monopolist earns economic profits of $200 per week. C) $6 per unit, and the monopolist earns economic losses of $100 per week. D) $6 per unit, and the monopolist earns economic profits of $300 per week.
If real GDP exceeds aggregate planned expenditure, what happens to a firm's unplanned inventories?
What will be an ideal response?
In a perfectly competitive market, at the market price, buyers
a. cannot buy all they want, and sellers cannot sell all they want. b. cannot buy all they want, but sellers can sell all they want. c. can buy all they want, but sellers cannot sell all they want. d. can buy all they want, and sellers can sell all they want.