When the nominal exchange rate changes from 4 francs per dollar to 6 francs per dollar, the dollar has:
A. appreciated.
B. become undervalued.
C. depreciated.
D. become overvalued.
Answer: A
You might also like to view...
A ticket to an Eric Clapton concert costs $45. If you have a ticket, you can “scalp” it (sell it illegally) for $75. To a ticket holder, the opportunity cost of actually attending the concert is
A. $45. B. $50. C. $75. D. $115.
When a self-aware, present-biased individual invests in a commitment device that will bind him in the future, he will resent that commitment device when the future becomes the present.
Answer the following statement true (T) or false (F)
There are apartments in Chicago whose rooftops overlook Wrigley Field. On game day you can find free riders on the roof enjoying ____.
A. free property rights B. an externality C. a public good D. excess utility
If the price of hotdogs increases by 10 percent and the quantity supplied by meat packing companies increases by 15 percent, what is the price elasticity of supply?
A) 1.65 B) 1.20 C) 0.67 D) 1.50