If One Dollar Is Initially Equal in Value to One

question 153

Multiple Choice

If one dollar is initially equal in value to one euro and demand for euros increases, then each dollar will be worth

• A)more than one euro, and European imports will be cheaper in the United States
• B)less than one euro, and European imports will be more expensive in the United States
• C)more than one euro, and European imports will be more expensive in the United States
• D)less than one euro, and European imports will be cheaper in the United States
• E)the same as the euro, and there will be no change in the values of imports or exports

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Definitions:

Social Variable

An element that can vary among individuals within a society, such as income, education level, or age, influencing behaviors and social outcomes.

Social Classes

A ranking of people into higher or lower positions of respect.