Which of the following examples definitely illustrates an appreciation of the U.S. dollar?
A) The dollar exchanges for 120 euros and then exchanges for 100 euros.
B) The dollar exchanges for 100 yen and then exchanges for 125 euros.
C) The dollar exchanges for 1 pound and then exchanges for 1.2 pounds.
D) none of the above
C
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If the money multiplier is 3.5, a $10 billion increase in the monetary base
A) increases the quantity of money by $35 billion. B) increases the quantity of money by $2.86 billion. C) increases the quantity of money by $3.5 billion. D) increases the quantity of money by $10 billion.
What is an example of a positive external shock to aggregate supply?
(A) China announces that it will import 50 percent more corn from the United States. (B) Demand for new suburban houses increases the value of farmland. (C) Good weather leads to an unusually productive harvest for corn farmers. (D) A popular new diet encourages consumers to buy more corn flakes.