Discuss the differences between Absolute PPP and Relative PPP
What will be an ideal response?
Absolute PPP states that the exchange rate between two currencies equals the ratio of their price levels. Relative PPP states that the percentage change in the exchange rate between two currencies over a given period equals the difference between the inflation rates of those two currencies.
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If the x-axis variable increases while the y-axis variable decreases, the variables x and y are negatively related
Indicate whether the statement is true or false
An increase in workers' wealth causes
a. the supply curve of labor to shift to the right b. the supply curve of labor to shift to the left c. the supply curve of labor to stay the same d. an upward movement along the supply curve of labor e. a downward movement along the supply curve of labor