If you go to the bank and notice that a dollar buys more Mexican pesos than it used to, then the dollar has
a. appreciated. Other things the same, the appreciation would make you less likely to travel to Mexico.
b. appreciated. Other things the same, the appreciation would make you more likely to travel to Mexico.
c. depreciated. Other things the same, the depreciation would make you less likely to travel to Mexico.
d. depreciated. Other things the same, the depreciation would make you more likely to travel to Mexico.
B
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Competition is best characterized as
A) a fully regulated set of market activities. B) a fair and just set of outcomes. C) a process of bids and offers. D) a necessary evil.
An economy is at full employment. Which of the following events can create a recessionary gap?
A) an increase in foreign income B) an increase in taxes C) a decrease in the quantity of capital D) a decrease in money wages