If the Japanese yen was 123 per dollar and now it is 114 yen per dollar, it can be said that
A) the yen has appreciated against the dollar.
B) the yen has depreciated against the dollar.
C) the dollar has appreciated against the yen.
D) Both answers C and B are correct
A
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Equilibrium expenditure is the level of expenditure at which
A) aggregate planned expenditure minus planned changes in inventories equals real GDP. B) aggregate planned expenditure plus planned changes in inventories equals real GDP. C) firms' inventories are zero. D) firms produce more output than they sell. E) firms' inventories are at the desired level.
If the government raised taxes and reduced government spending in order to reduce the budget deficit, monetary policy could accommodate this policy by
a. increasing money demand. b. increasing money supply. c. decreasing money supply. d. increase unemployment insurance.
Classical economists wrote from the 1770s to the ________
A) 1850s B) 1890s C) 1930s D) 1960s
A rational decisionmaker takes an action if and only if
a. the marginal benefit of the action exceeds the marginal cost of the action. b. the marginal cost of the action exceeds the marginal benefit of the action. c. the marginal cost of the action is zero. d. the opportunity cost of the action is zero.