The equilibrium price for a British pound is $1.60. At a price of $1.55 per British pound, there would be excess __________ the dollar and the dollar would __________
A) supply of; appreciate
B) supply of; depreciate
C) demand for; appreciate
D) demand for; depreciate
B
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The cartel consisting of Firm A and Firm B can become unstable if: a. Firm A manages to enhance the quality of its product. b. both the firm sell homogeneous products
c. Firm B decides to decrease its output. d. both firms decide to decrease industry output.
You put money into an account that earns an 8 percent nominal interest rate. The inflation rate is 5 percent, and your marginal tax rate is 10 percent. What is your after-tax real rate of interest?
a. 2.2 percent b. 2.7 percent c. 11.7 percent d. 7.7 percent
In the United States, lobbying is:
A. illegal. B. important to firms in perfectly competitive markets. C. a way of protecting monopolies. D. not important to most monopolies.
Suppose that the objective of a union is to maximize the total dues paid to the union by its membership. If union dues are paid as a flat amount per union member? employed, the? union's strategy will be to