Which of the following changes in the exchange rate represents a depreciation of the dollar?
a. 100 yen = $1 to 110 yen = $1 b. 1 yen = $.10 to 1 yen = $.08
c. 1 peso = $10 to 1 peso = $11 d. 200 francs = $10 to 250 francs = $10
c
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A decrease in interest rates will
A) shift the investment function relating planned investment to the interest rate to the left. B) be a movement along the investment function relating planned investment to the interest rate. C) shift the investment function relating planned investment to the interest rate to the right. D) have no impact on the investment function relating planned investment to the interest rate.
Economists are concerned with an individual's
A) needs because needs are most important to an individual's well being. B) needs because economists define needs to be the goods people need to survive. C) wants because wants always lead to shortages in the economy. D) wants because the existence of wants leads to scarcity.