When the exchange rate between the U.S. dollar and the euro changes from 1.07 euros per dollar to 0.93 euros per dollar, then the
A) U.S. dollar has depreciated against the dollar.
B) U.S. dollar has depreciated against the euro.
C) euro has depreciated against the dollar.
D) U.S. dollar has appreciated against the euro.
E) euro has depreciated against the euro.
B
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When a country participates in international trade, its consumption possibilities
A. Always exceed its production possibilities. B. Must still equal its production possibilities. C. Will increase if it is a rich country and will decrease if it is a poor country. D. May increase, but its trading partners consumption possibilities will decrease.
Suppose a consumer wants to obtain the highest possible satisfaction from goods purchased on a fixed budget. Which of the following must be equal for all goods?
A. Total utility. B. Marginal utility. C. Average utility. D. Marginal utility per dollar.
The higher the interest rate, the greater the:
A. Both present value and net present value are correct. B. Neither present value nor net present value is correct. C. present value. D. net present value.
A period of time in which the overall pace of business activity is rising is known as
A. a contraction. B. deflation. C. inflation. D. an expansion.