An increase in the price level in the United States relative to the price level in Great Britain causes a depreciation of the dollar against the pound.
Answer the following statement true (T) or false (F)
True
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Which of the following changes would increase the present value of a future payment?
a. a decrease in the size of the payment b. a decrease in the certainty of the payment actually being received c. an increase in the amount of time that elapses before receiving the payment d. a decrease in the interest rate e. none of the above
Recovery from the 1990-91 recession occurred because wages fell and the aggregate supply curve shifted downward
a. True b. False
Which statement is true?
A. The marginal cost curve intersects both the average variable cost curve and the average total cost curve at their minimum points. B. The marginal cost curve intersects neither the average variable cost curve nor the average total cost curve at their minimum points. C. The marginal cost curve intersects the average variable cost curve at its minimum point, but it does not intersect the average total cost curve at its minimum point. D. The marginal cost curve intersects the average total cost curve at its minimum point, but it does not intersect the average variable cost curve at its minimum point.
If there is ongoing inflation in an economy, the value of real GDP will be greater than the value of nominal GDP
a. True b. False Indicate whether the statement is true or false