When the value of one currency falls relative to another currency, the exchange rate for the first currency has
A) depreciated.
B) appreciated.
C) demanded.
D) revalued.
A
Economics
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As an economy grows,
A) its PPF does not shift; instead, the production point moves from inside the PPF to be closer to the PPF. B) the opportunity cost of production will approach 0. C) it can eliminate scarcity. D) its PPF shifts outward. E) the opportunity cost of production will increase.
Economics
In the short run, marginal cost is minimized when
A) MPL is maximized. B) MPL equals zero. C) APL is maximized. D) APL equals zero.
Economics