As the dollar appreciates, which of the following is most likely to occur?
a. More Americans will travel abroad.
b. American imports will fall.
c. More foreigners will visit the United States.
d. American firms will reduce their investments abroad.
A
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The primary functions of money are:
a. velocity, liquidity, and transactions. b. speculative demand, measure of value, and precautionary demand. c. a medium of exchange, a unit of account, and a store of value. d. a store of value, heterogeneity, and a medium of exchange. e. currency value, fiat value, and accepted value.
An isocost line is a line that represents combinations of:
A. output that can be produced from the same quantity of inputs. B. factors of production that produce equal amounts of output. C. factors of production that cost the same amount. D. output that can be produced at the same cost.