Suppose the exchange rate between the U.S. and Argentina is initially set at 20 pesos per dollar and increases to 25 pesos per dollar. In the U.S. economy this would be expected to
A. increase exports and decrease imports.
B. increase both exports imports.
C. decrease both exports imports.
D. increase imports and decrease exports.
D. increase imports and decrease exports.
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Why does the short-run aggregate supply curve shift to the left in the long run, following an increase in aggregate demand?
A) Workers and firms adjust their expectations of wages and prices upward and they push for higher wages and prices. B) Workers and firms adjust their expectations of wages and prices upward and they accept lower wages and prices. C) Workers and firms adjust their expectations of wages and prices downward and they push for higher wages and prices. D) Workers and firms adjust their expectations of wages and prices downward and they accept lower wages and prices.
Between 1810 and 1860, the value of slaves in the United States
a. nearly doubled. b. tripled. c. increased nearly fourfold. d. increased nearly tenfold.