The Following Table Shows the Number of U

question 53

Multiple Choice

The following table shows the number of U.S. dollars required to buy one euro between September 3, 2012, and April 1, 2013. Use this table to answer the questions that follow.

-Between November 1,2012,and January 1,2013,the U.S.dollar ________ against the euro and the euro ________ against the U.S.dollar.

• A) depreciated; appreciated
• B) appreciated; depreciated
• C) neither appreciated nor depreciated; depreciated
• D) depreciated; neither appreciated nor depreciated
• E) appreciated; neither appreciated nor depreciated

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Definitions:

Short Run

A period in which at least one factor of production is fixed and cannot be changed, influencing production and cost.

Long Run

A time period in economics sufficient for all markets to adjust, including those for labor and capital, with all factors of production and costs variable.

Excess Capacity

A situation in which a firm is producing at a lower scale of output than it has been designed for, often leading to inefficiency and increased costs.

Over-Differentiation

The excessive creation of variations of products that confuse rather than satisfy consumer needs.