The Exchange Rates Between the Australian Dollar and the U

question 30

Multiple Choice

The exchange rates between the Australian dollar and the U.S.dollar were as follows: This chart shows a

• A)strengthening Australian Dollar which makes it less expensive for Americans to buy Australian goods.
• B)weakening Australian dollar which makes it less expensive for Americans to buy Australian goods.
• C)strengthening Australian dollar which makes it more expensive for Americans to buy Australian goods.
• D)weakening Australian dollar which makes it more expensive for Americans to buy Australian goods.

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Definitions:

Delicatessen

A retail establishment that sells a selection of fine, unusual, or foreign prepared foods.

Constant Slope

The unchanging steepness or incline of a line on a graph, indicating a steady rate of change between two variables.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, demonstrating the sensitivity of consumers to price changes.

Demand Curve

A demand curve is a graph showing the relationship between the price of a good and the quantity of that good that consumers are willing and able to purchase at various prices.