A persistent surplus of pounds at a given fixed exchange rate (in dollars per pound) is evidence that the pound is ________ versus the dollar. This surplus can be reduced or eliminated through a ________ of the pound.
A) overvalued; revaluation B) overvalued; devaluation
C) undervalued; devaluation D) undervalued; revaluation
Question 2
An outward shift of a nation's production possibilities frontier represents
A) a situation in which a country produces more of one good and less of another.
B) an impossible situation.
C) economic growth.
D) rising prices of the two goods on the production possibilities frontier model.
Countercurrent heat exchange in the lateral muscles of bluefin tuna.
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