The currencies of Poland and Iceland (the zloty and the krona, respectively) declined in value relative to the euro following the financial crisis of 2008. This means that the
A) zloty and krona appreciated in value against the euro.
B) euro depreciated in value against the zloty and the krona.
C) zloty and krona depreciated in value against the euro.
D) zloty depreciated in value against the krona.
E) Both A and B are correct.
C
You might also like to view...
In the classical model,
A) unemployment will never exist since workers will be willing to accept lower wages and will then be able to find work. B) unemployment will never exist because employers will be willing to pay the wage rate demanded by the workers. C) wages will go up but never go down. D) full employment will never be reached.
Which of the following is a type of ownership that features a fixed payment?
a. common stock b. preferred stock c. retained earnings d. bonds
What good or service creates positive externalities?
a. Vaccination against measles b. Vegan cookies c. Organic sweaters d. Eyesight correction surgery
If a government could successfully achieve the maximin criterion, each member of society would have an equal income
a. True b. False Indicate whether the statement is true or false