If the exchange rate changes from 1 euro per U.S. dollar to 1.2 euros per U.S. dollar, the Euro has
a. appreciated, since its value has increased
b. appreciated, since the price of U.S. dollars has increased
c. appreciated, making U.S. goods cheaper in Euros
d. depreciated, since its value has declined
e. depreciated, since its value has increased
D
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Suppose the market basket of consumer goods and services costs $180 using the base period prices, and the same basket of goods and services costs $300 using the current period prices. The CPI for the current year period equals
A) 166.7. B) 66.7. C) 160.0. D) 60.0. E) 300.0.
Unions are less likely to strike today than in the past because
a. employers are more willing to hire strike breakers b. fewer workers, both union and nonunion, are willing to cross picket lines c. most workers in the U.S. cannot permanently lose their jobs d. real wages have increased over the last 20 years e. many high-profile strikes (e.g., Caterpillar) have resulted in union victories