When the exchange rate for a currency falls so that a currency trades for less of other currencies, it is said to be appreciating
a. True
b. False
Indicate whether the statement is true or false
False
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Opportunity cost is best defined as the value of
A. all of the other possible options that the decision maker could have chosen. B. the alternative which the decision maker would choose if more resources were available. C. what is gained from the alternative which is chosen. D. resources that are given up to attain the alternative that is chosen. E. the next best alternative that the decision forces one to give up.
The ________ plots the relationship between prices and the quantity that buyers are willing to purchase
A) supply curve B) isoquant C) indifference curve D) demand curve
According to the classical view,
A. velocity is constant, which means changes in price will cause changes in price or quantity. B. quantity is constant, which means changes in the money supply could cause either changes in velocity or changes in prices. C. velocity and price are constant so that changes in the money supply causes changes in quantity. D. velocity and quantity are constant so that changes in the money supply cause changes in prices.
Kim's demand curve for sodas:
A. assumes that the only variables that change are the price of sodas and the quantity of sodas demanded by Kim. B. shows the quantity of sodas Kim consumes as her preference for sodas change. C. makes no assumptions about Kim's preference for sodas. D. assumes that the only variable that changes is Kim's income.