A rise in the price of a nation's currency relative to foreign currencies is called
a. appreciation
b. depreciation
c. surplus on current account
d. foreign exchange
e. devaluation
A
Economics
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Currency rates of exchange are determined by
A) agreements among governments. B) the nations with the strongest armies. C) the demand and supply of the currency. D) multilateral business agreements.
Economics
Assuming that clothing is a normal good, an increase in consumer income, other things being equal, would:
a. increase the demand for clothing. b. decrease the demand for clothing. c. increase the quantity of clothing demanded. d. decrease the quantity of clothing demanded
Economics