Price elasticity of supply is defined as
A) the quantity supplied divided by the quantity demanded.
B) the change in the quantity supplied divided by the change in the quantity demanded.
C) the percentage change in the quantity supplied divided by the percentage change in price.
D) the percentage change in the quantity supplied divided by the percentage change in the quantity demanded.
C
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In the foreign exchange market, the demand for dollars decreases and the demand curve shifts leftward if the
A) U.S. interest rate differential increases. B) U.S. exchange rate falls. C) U.S. interest rate differential decreases. D) U.S. exchange rate rises. E) expected future exchange rate rises.
A persistent shortage or surplus of a currency under the Bretton Woods system was evidence of
A) failure to support the existing fixed exchange rate by central banks. B) speculation against the currency by speculators in world exchange markets. C) fundamental disequilibrium in the country's exchange rate. D) all of the above