A currency has depreciated when:
A. that currency buys less foreign goods than it did previously.
B. that currency buys more foreign goods than it did previously.
C. one unit of that currency buys more units of a foreign currency than it did previously.
D. foreign goods become cheaper to holders of that currency.
A) that currency buys less foreign goods than it did previously
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Carefully explain how the imposition of a tariff is different for a large country (that can affect the world price) than a small country
What will be an ideal response?
Income inequality is indicated by a Lorenz curve that:
a. bows up, away from the line of income equality. b. bows down, away from the line of income equality. c. lies parallel to the line of income equality. d. coincides with the line of income equality. e. approaches the vertical axis.