An Increase in the Dollar Price of the English Pound

question 101

Multiple Choice

An increase in the dollar price of the English pound will

• A)increase the supply of dollars.
• B)decrease the supply of pounds.
• C)cause an increase in the pound price of the dollar.
• D)cause a decrease in the pound price of the dollar.

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Definitions:

Accountants

Professionals who manage and examine financial records for individuals, companies, or organizations.

Economists

Professionals who study the production, distribution, and consumption of goods and services, analyzing how economies work and how economic agents interact.

Opportunity Costs

Represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.

Explicit Costs

Direct, out-of-pocket payments for inputs or resources used in the production of goods or services, such as wages for labor, rent for offices, or materials for production.