If market forces change the exchange rate value of one dollar from 80 yen to 83.25 yen, then the dollar has
a. appreciated.
b. depreciated.
c. been revalued.
d. been devalued.
a
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The biggest problem caused by a deflation is that
A) prices fall. B) wages fall. C) interest rates rise. D) people cannot repay their debts.
A professional hockey franchise is trying to assemble a parcel of land to build an arena. There is one vacant warehouse on the land the franchise needs. In this case,
A) eminent domain will reduce transactions costs and make a pie-increasing arena possible. B) eminent domain will reduce the likelihood of holdouts and make a pie-increasing arena possible. C) eminent domain is not called for as the land can probably be acquired more efficiently through bargaining. D) Both A and B are correct.
The profit-maximizing rate of output in Figure 24.1 is
A. F. B. I. C. H. D. E.
On the long-run Phillips curve, the unemployment rate
A) equals the natural unemployment rate, but the inflation rate can be any value. B) decreases when the inflation rate increases. C) equals the natural unemployment rate, and the inflation rate equals the expected inflation rate. D) can be any value, but the inflation rate equals the expected inflation rate. E) and inflation rate can take any value.