A depreciation of one's currency means that:
A. the country's exports will become more expensive.
B. the country's imports will become more expensive.
C. the country's imports will become less expensive.
D. it now requires less of this currency in exchange for one unit of another currency.
Answer: B
Economics
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If a good has an absolute price elasticity of 1, the demand for the good is
A) unit elastic. B) inelastic. C) perfectly elastic. D) elastic.
Economics
Strategic behavior occurs when:
a. there are a large number of firms selling identical products. b. there is only one firm in the market. c. the firms have no command over the prices of the good they produce. d. the firms can take any decision irrespective of what their rival does. e. what is best for a firm depends on what his rival does.
Economics