When the nominal exchange rate in terms of dollars per yen rises
A) the dollar buys more yen and the dollar has depreciated.
B) the dollar buys fewer yen and the dollar has depreciated.
C) the dollar buys more yen and the dollar has appreciated.
D) the dollar buys fewer yen and the dollar has appreciated.
B
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The price elasticity of demand for a good measures the responsiveness of:
A. quantity demanded to a one percent change in price of that good. B. price to a one percent change in the demand for that good. C. price to a one percent change in the quantity demanded of that good. D. demand to a one percent change in price of that good.
Speculators are primarily interested in
A) betting on anticipated changes in prices. B) reducing their exposure to the risk of price fluctuations. C) increasing market liquidity. D) reducing the spread between bid and ask prices on bonds.
If demand facing the firm is price-inelastic, marginal revenue will be:
a. positive. b. zero. c. negative. d. constant.
Which of the following resulted from the collapse of the housing bubble in the United States during 2007?
A. The mean wealth was 6.5 times lower than the median households' wealth in 2010. B. The mean wealth was 6.5 times higher than the median households' wealth in 2010. C. The total households' wealth declined by 15 percent in 2010. D. The average households' wealth declined by 40 percent in 2010.