The value of the Swiss franc relative to the dollar would increase if the supply of dollars increases and the demand for Swiss francs
A. decreases.
B. remains unchanged.
C. increases.
D. All of the above are correct.
Answer: C
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Q: How many economists does it take to screw in a light bulb?
A: None. If the light bulb really needed changing, market forces would have already caused it to happen. This joke represents the view of A) Keynesian economists. B) classical economists. C) economists who conclude that wages and prices are inflexible. D) economists who conclude that money illusion is widespread.
A capital gain is defined as
A) the tax paid when one sells an asset. B) the positive difference between the sale price and the purchase price of an asset. C) the tax rate one pays when one moves into a higher tax bracket. D) an unanticipated increase in income.
An example of splitting up the value chain would be the shipment of
a. refrigerators. b. cellular Phones. c. automotive dashboards. d. automobiles.
In the Perspective on profit maximization and greed, greed is regarded as
a. inherent in capitalist societies b. an evil that must be addressed by all societies c. an expression of behavior that can be associated with all forms of profit maximization d. an acceptable mode of behavior in a zero-sum world e. having no negative consequences in a zero sum world