A currency appreciation is a(n):
A. decrease in the value of a currency relative to other currencies.
B. increase in the value of a currency relative to other currencies.
C. increase in the official value of a currency in a fixed-exchange-rate system.
D. reduction in the official value of a currency in a fixed-exchange-rate system.
Answer: B
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When a good is imported into the United States, a ________is created
A) supply of foreign currency with no effect on the market for the dollar B) demand for dollars with no effect on markets for foreign currencies C) supply of foreign currencies and a demand for dollars D) demand for foreign currencies and a supply of dollars
In the United States
A) there are more households with incomes below the mean income than above the mean income. B) there are more households with incomes above the mean income than below the mean income. C) the mode income equals the mean income. D) the income distribution is bell shaped.
The current exchange rate system in the United States is best described as a
A) silver standard. B) fixed exchange rate system. C) managed float exchange rate system. D) gold standard.
The demand for most farm products is relatively inelastic. A drought that reduces the supply of farm products will also cause farm revenues to fall
Indicate whether the statement is true or false