If the exchange rate changes from 20 cents per franc to 18 cents per franc, the U.S. dollar has
a. appreciated, since its value has increased
b. appreciated, since its value has declined
c. depreciated, making French goods more expensive in U.S. dollars
d. depreciated, since its value has declined
e. depreciated, since its value has increased
A
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An expansionary fiscal policy shifts the aggregate demand curve to the right
a. True b. False Indicate whether the statement is true or false
Many economic models are not sufficiently detailed to make precise numerical predictions. What, then, is the value of such models?
What will be an ideal response?
Some types of aid limit or reduce potential benefits as a result of ______ , particularly when aid must be spent on goods or services from the donor country.
Fill in the blank(s) with the appropriate word(s).
Jonah lives in a small town where there is only one Mexican restaurant. Which of the following is likely to be true about the price elasticity of demand for meals at the Mexican restaurant?
A) Demand is likely to be perfectly inelastic. B) Demand is likely to be perfectly elastic. C) Demand is likely to be relatively elastic. D) Demand is likely to be relatively inelastic.