If the euro–pound exchange rate increased from €1.1 per pound in 2009 to €1.27 per pound in 2012, it implies a depreciation in the value of the pound from 2009 to 2012
a. True
b. False
Indicate whether the statement is true or false
False
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Provide two examples of a monetary incentive and two examples of non-monetary incentive, a carrot and a stick of each, that government policies use to influence behavior
What will be an ideal response?
The slope of the budget line is equal to the ratio of:
a. marginal utilities. b. money income to the price of the good on the horizontal axis. c. money income to the price of the good on the vertical axis. d. price of the good on the horizontal axis to the price of the good on the vertical axis.
If the nominal interest rate is 5 percent and there is a deflation rate of 3 percent, what is the real interest rate?
a. 8 percent b. 2 percent c. 15 percent d. 1.7 percent
The expansion path shows how
A. the cost-minimizing input choices change as the firm's output level changes. B. the marginal products change as the firm's output level changes. C. the cost-minimizing input prices change as the firm's output level changes. D. the profit-maximizing input choices change as the firm's output level changes. E. input prices change as the firm's output level changes.