A revaluation of the exchange rate is a policy action that
A) increases the real exchange rate.
B) decreases the real exchange rate.
C) increases the nominal exchange rate.
D) decreases the nominal exchange rate.
D
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The short-run profit-maximizing output level for a monopolistically competitive firm is the point at which
A) P = ATC. B) MR = MC. C) MR > P. D) MR > ATC.
If the demand for pizza increases, then as a result, it is highly likely that the demand for:
A. chicken nuggets will fall. B. soda will increase. C. mozzarella cheese will increase. D. All of these are a likely result.
At the beginning of a year, decision makers expect the general level of prices to increase at a 3 percent annual rate. The CPI increases from 150 to 154.5 during the year; this is an example of
a. an inflation rate that is equal to 4.5 percent. b. an unanticipated increase in the general level of prices. c. an increase in the general level of prices that was accurately anticipated. d. an inflation rate that is less than what people anticipated.
At the beginning of the 20th century one farmer in the U.S. produced enough to feed ____________ people, and at the end of the century, one farmer produced enough to feed ____________ people
A) 20; 40 B) 7; 15 C) 12; 42 D) 8; 35