A nominal appreciation of the Mexican peso (against all currencies) indicates that
A) the peso price of foreign currency has risen.
B) the Mexican real exchange rate will not change if the price level in Mexico falls.
C) the peso price of, for example, the U.K. pound has decreased.
D) the number of units of foreign currency that one can obtain with one peso has increased.
C
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Which of the following scenarios could be an example of increasing marginal utility?
A. A father buying three game CDs for his son. B. A shopkeeper selling the tenth pound of hamburger. C. A stamp collector purchasing an additional stamp for collection. D. A consumer buying an additional unit of apple.
If a government imposed price ceiling legally sets the price of beef below market equilibrium, which of the following will most likely happen?
A. The quantity of beef demanded will decrease. B. The quantity of beef supplied will increase. C. There will be a surplus of beef. D. There will be a shortage of beef.
In 2012, the so-called Tax Freedom Day in the U.S. occurred in:
A. February B. April C. August D. June
Define the marginal propensity to import
What will be an ideal response?