Appreciation is the term used to describe
a. the conversion of one currency into another currency in the free market
b. a reduction in the official value of a currency.
c. the upward movement of currencies in a free market.
d. an increase in the official value of a currency.
c
You might also like to view...
Even though points inside a production possibilities curve are attainable, why are they not preferred?
What will be an ideal response?
If the production possibilities frontier of one trade partner ("Country A") is bowed out (concave to the origin), then increased specialization in production by that country will
A) increase the economic welfare of both countries. B) increase the economic welfare of only Country A. C) decrease the economic welfare of Country A. D) decrease the economic welfare of Country B. E) not affect the economic welfare of either country.