Purchasing power parity is defined as
A) an equal value of money across currencies.
B) a currency whose value rises.
C) an equal value of interest rates across currencies.
D) a currency whose value falls.
E) a constant value for a currency.
A
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Transactions costs refer to
A) the cost of transporting goods from one destination to another. B) the raw material cost of production. C) the costs in time and other resources that parties incur in the process of agreeing to and carrying out an exchange of goods or services. D) the implicit costs of production.
Seller A, has an upward-sloping supply curve, and is willing to supply 400 units of a commodity at a price of $5 per unit. Seller A is now willing to supply 500 units at a price of $5 per unit. Evidently, seller A has experienced a(n):
a. increase in supply. b. decrease in supply. c. increase in quantity supplied. d. decrease in the quantity supplied. e. decrease in demand.