Examlex
If the exchange rate value of the euro goes from U.S. $1.15 to U.S. $1.05, then:
a. The euro has appreciated, and Europeans will find U.S. goods cheaper.
b. The euro has appreciated, and Europeans will find U.S. goods more expensive.
c. The euro has depreciated, and Europeans will find U.S. goods more expensive.
d. The euro has depreciated, and Europeans will find U.S. goods cheaper.
Traditional Authority
The inherited right of individuals to expect loyalty and obedience from others; authority based in custom and tradition.
Rational-Legal
A concept in sociology that describes a form of governance or organization founded on laws, rules, and procedures rather than on traditional or charismatic authority.
Favoritism
The practice of giving unfair preferential treatment to one person or group at the expense of others.
Nepotism
Favoritism shown to relatives or friends by those in power, often by providing them employment.
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