When the dollar appreciates relative to foreign currencies, it means that:
A. We need more dollars to buy each unit of another currency
B. We can buy less foreign currency with a given amount of dollars
C. The value of foreign currencies decreased relative to our dollar
D. Foreigners need less of their currency to buy one dollar
C. The value of foreign currencies decreased relative to our dollar
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The demand for money is
A) positively related to the nominal interest rate. B) positively related to the real interest rate. C) positively related to the price level. D) negatively related to real GDP. E) negatively related to the price level.
Firms that practice tacit collusion may receive some of the benefits of a cartel without explicitly organizing a group of firms.
Answer the following statement true (T) or false (F)
General equilibrium analysis is the study of
A) how an equilibrium is determined in all markets simultaneously. B) how an equilibrium is determined in all closely related markets. C) the effects of a change in a market, and all spillover effects in all related markets. D) Any of the above.
Resources that are privately owned are less likely to be depleted than resources that are not privately owned
Indicate whether the statement is true or false