An appreciation of one's currency means that:
A. the country's exports will become less expensive.
B. the country's imports will become more expensive.
C. the country's imports will become less expensive.
D. it now requires more of this currency in exchange for one unit of another currency.
Answer: C
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A main argument against indexing is that: a. it can worsen inflation
b. it can reduce asset prices. c. transaction costs are too high. d. it could lead to deflation.
The United States places a limit on the number of cars that can be brought into the country for sale. What is this an example of?
(A) A voluntary export restraint (B) A customs duty (C) A tariff (D) An import quota
Assuming a typical firm has some implicit costs, in the long run a perfect competitor earns ________ accounting profit and __________ economic profit.
Fill in the blank(s) with the appropriate word(s).
If tablets have an absolute price elasticity of 1, the demand for tablets is
A) unit elastic. B) inelastic. C) perfectly elastic. D) elastic.