After WWI, what was the difference between the British and the French in terms of currency values?
A) The French devalued the franc from prewar levels; the British did not.
B) The British devalued the pound from prewar levels; the French did not.
C) The French depreciated the franc from prewar levels; the British did not.
D) The British depreciated the pound from prewar levels; the French did not.
A
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A decrease in the foreign interest rate causes the demand for domestic assets to shift to the ________ and the domestic currency to ________, everything else held constant
A) right; appreciate B) right; depreciate C) left; appreciate D) left; depreciate
Keynes argued that because of sticky prices and wages
A) the short-run aggregate supply curve could be horizontal. B) the short-run aggregate supply curve is probably vertical. C) the long-run aggregate supply curve slopes downward. D) the aggregate demand curve is vertical.
If the demand for baseball cards rises and the supply curve does not shift, then the price
a. will rise and quantity will fall b. and quantity will rise c. will fall and quantity will rise d. and quantity will fall e. will rise, but quantity may rise or fall
The primary functions of money are
a. velocity, liquidity, and transactions b. speculative demand, measure of value, and precautionary demand c. a medium of exchange, a measure of value, and a store of value d. a store of value, heterogeneity, and a medium of exchange e. currency value, fiat value, and accepted value