An increase in a fixed exchange rate from $2.00 per pound to $2.10 per pound is called a(n) ________ of the pound
A) devaluation B) appreciation C) revaluation D) depreciation
C
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The richest fifth of the population's share of income increased from 43.7 percent in 1980 to what percent in 2010?
a. 49.2 b. 50.2 c. 52.2 d. 54.2
In September 2010, the NBER's Business Cycle Dating Committee decided that the recession that began in December of 2007 had ended and that the lowest point of production was July of 2009. The NBER does not use a popular definition of recession-two quarters of falling GDP-but looks at a variety of monthly statistics to date business cycles. In business cycle terminology, what does July 2009 mark?
A. The duration of the recession B. The peak of the cycle C. The trough of the cycle D. The depression of the cycle
As the dollar price of a euro falls
A. French goods will be less expensive to U.S. residents. B. U.S. residents will purchase fewer French imports. C. French residents will increase their purchases of U.S. assets. D. the quantity of euros supplied will increase.
In the short run, which one of the following causes a competitive firm to hire more labor?
A) an increase in wage rate B) an increase in the output price C) a specific tax imposed on the firm's output D) a decrease in the output price