If a laborer in Mexico can produce 2 bushels of wheat or 4 bushels of corn in a day, the opportunity cost of producing wheat is 4 bushels of corn

Explain what is meant by a devaluation of a currency. Under what circumstances would a country devalue its currency?

What will be an ideal response?

Suppose that when the price of ice cream increases, Liza decreases her purchase of hot fudge. To Liza,

A) ice cream and hot fudge and substitutes. B) ice cream is a normal good and hot fudge is an inferior good. C) ice cream and hot fudge are normal goods. D) ice cream and hot fudge are complements.