18) Consider the following initial quote: /$ = 0.83/1. If tomorrow the quote becomes: /$ = 0.57/1 this means that

a.

None of the other options

b.

The sterling depreciated with respect to the dollar

c.

We need less sterling to buy one dollar

d.

We need more sterling to buy one dollar

19) Consider that C = aggregate consumption, I = aggregate investments, G = government expenditures, X = aggregate exports, M = aggregate imports, are all components of the GDP. Select the correct statement

a.

The component aggregate imports M is always larger than the components aggregate export X

b.

None of the other options

c.

The component Government Expenditures is usually the largest component of the GDP

d.

The component aggregate government expenditures considers also social benefits and pensions

20)

The amplitude is one of the characteristics of the business cycle that indicates

a.

The deviation of the economy from the trend

b.

The fact that the economy is moving towards expansion

c.

How frequent the business cycle goes in recession

d.

None of the other options