The Supply Curve of British Pounds Slopes Upward Because as the Dollar

question 156

Multiple Choice

The supply curve of British pounds slopes upward because as the dollar _____ American goods become ______ for the British.Therefore, the British purchase ______ American goods, and the quantity of pounds supplied increases.

• A) depreciates against the pound; less expensive; more
• B) depreciates against the pound; more expensive; less
• C) appreciates against the pound; more expensive; more
• D) appreciates against the pound; less expensive; less

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Definitions:

Industrial Revolution

The period of great economic, technological, and social change in the 18th and 19th centuries, marked by the transition from manual production methods to machine-based manufacturing processes.

Gig Economy

A labor market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs.

Economic Options

The range of possible choices available to individuals, businesses, and governments in the allocation of resources to meet needs and desires.

Deep Integration

The extent of integration in economic relations and policies beyond removal of tariffs to include harmonization of legal and regulatory systems.