In July 2011, $1 was worth 45 Indian rupees and in July 2012, $1 was worth 55 Indian rupees. We can therefore conclude that
A) the Indian rupee depreciated.
B) the Indian rupee appreciated.
C) the U.S. dollar has depreciated.
D) the value of the U.S. dollar has fluctuated.
Answer: A
Economics
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In the long-run equilibrium, an increase in the quantity of capital leads to
A) an increase in the equilibrium price level and an increase in equilibrium real GDP. B) a decrease in the equilibrium price level and an increase in equilibrium real GDP. C) a decrease in the equilibrium price level, but no change in equilibrium real GDP. D) no change in the equilibrium price level, but an increase in equilibrium real GDP.
Economics
Why do economists mostly use optimization in differences, as opposed to optimization in levels?
What will be an ideal response?
Economics